[B]Commentary[/B]: We wrote yesterday that “the short term bearish bias is strong as long as price is below 107.92. There is no change to our targets that lie below 100.00.” The USDJPY countinues to plummet in what we view as a third of a third wave within the 5 wave bear cycle from 124.13. We continue to show the daily chart because there is no reason to ‘look for a bottom’ when evidence is strong that the pair is in a third of a third wave. Risk can be moved to 106.59.
[B]Strategy[/B]: Flat