Update USDJPY: Is It STILL On Its Way Down?

Many of you have PM'ed me asking about what's going on with this pair after I made another very accurate prediction back 2 months ago that we were going to see a plunge happen! (see this post:
IF you had listened to me, you would at this moment still be in profit by +450 pips. It had dropped as much as +730 pips!
But as with any wave, there will be some retracing and profit taking. That is what has been happening lately. I identified that there was to be a retrace that would be coming back on April 18 and issued a BUY call to my members. And guess what? That is EXACTLY what has happened! It has moved over +250 pips after I issued that BUY call!

But what is this move and do I think that the overall HUGE move down is done? NOT BY A LONG SHOT! This pair still has a LONG WAYS down to go yet! So the real question here is where and when do we look to SELL again?

What you are seeing here is my very preliminary projections as to what I expect to happen. Mind you. This is VERY PRELIMINARY and MUCH can and WILL change! I update my projections and expectation on this twice a day so whenever something changes, I send an alert out and update the chart. But from what you see here in this chart I'm posting here, what I'm looking at happening here is a correction and this initial move up is just the first of a 3 wave correction. There is a POTENTIAL Cypher in play here with the CD leg yet to form. If this cypher does complete, that will be a VERY good place to get SHORT and catch the resumption of the larger down trend. BUT there is also the MAJOR DT TL to deal with (red line). Should prices reach that line, then we must watch very carefully whether that MAJOR TL will hold and reject prices sending it tumbling back down.

PM me with comments/questions