Given the context treated in previous elliott wave counts for the USDJPY we can see this evening star formed yesterday as a good entrance for a new trend with an initial risk reward pretty fair (for a minimum target of the latest support) but also could be great if you let some of the sell to continue running because we expect get lower than the 94's low.
Supporting this pattern are:
*Close below the 99.93 phantom support.
*Failure to make new highs (above 101.5)
*Previous established chance for a new down trend
Supporting this pattern are:
*Close below the 99.93 phantom support.
*Failure to make new highs (above 101.5)
*Previous established chance for a new down trend