and for both technical and fundamental reasons there is a good chance that we may
see the start of the next leg higher very soon.
Read more here: http://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2013/08/09/Japanese_Yen_Surges_but_Were_Looking_for_Major_Reversal.html
Main view: we are correcting the 3 wave and we are in wave C which should give us a new low near 90 before higher.
Alt view: we are in a 4:th wave triangle and we should look for a low very soon.
Look below for more charts.
Red = very bearish and we are still in an A-B-C correction where we should see lows at least near 90,
and max near 84.20 (wave 1)
Blue = medium term bearish, a failure to break 93.7.
Green = bullish triangle as shown in recent charts, BUT to confirm a bullish triangle break-out
we must first take out 101.5. As long as 101.5 holds, the possibility for an A-B-C correction
can't be ruled out.