We discussed the [short term USDJPY structure](301 Moved Permanently term http:/www.dailyfx.com/story/bio2/Forex_Technicals__The_Day_Ahead__1219093789732.html) in last night’s technical update and so far, the pair is following the preferred short term path.
Support should be strong down to 109.23. As long as price is above 108.36, it is our contention that wave C of a second zigzag within a double zigzag from 95.72 is underway towards 116-118.