Yen Technical Outlook

Preferred count: The advance from 95.72 is wave W in a W-X-Y complex correction and the drop from 108.57-103.76 is wave X.

Wave Y is underway towards 116 (equality with wave W). Alternate: price action from 108.57 is forming a triangle in wave X. Expect 108.57 to give way next week, if not this week. Move risk to 107.69.