Trading the Yen, is a dark art. Rarely do I ever see success from this pair. In a way, I feel using Elliott wave analysis to try and understand the currency is far removed as the impulsive waves are always hidden and never provide clean signals. I personally think it's heavily manipulated by serious players as buying and selling waves don't look natural. In terms of analysis, this is a classic ABC to hit the daily fibonacci speed fan. I'm expecting price to hit the first resistance and retrace back close to my SL however I want to get in now to be able to put my SL above where I think the first impulsive waves starts on the 15 minute frame. If it hits my stop it would invalide the theory/analysis. So, it's going to be a bumpy ride to take profit if it's correct.