The yen is likely to depreciate in the longer term. With the low on March 24, the red X should have ended and the pair should already be on its way to its interim high at around 134.5. Of course, the correction could have already ended here, but this would result in targets in the negative range for the then upcoming green c, so that it can be assumed that another corrective upward wave should follow. However, before the last high at 110.5 is not broken, the correction in the form of the red X can still follow another wave