FX:USDJPY U.S. Dollar/Japanese Yen
USDJPY has been for the past couple of days. The correction has begun and now it's just a question of when to get into a long trade. Using Harmonics it would seem that the retracement has indeed begun. There is some good structure around the 61.8 FIB which would give a good chance of getting on board with the up-trend. The round number 123 is a good place to start checking that the move down has run out of steam. This would increase the risk slightly, but I think we should still be able to get a 1:1 Risk:Reward from this trade.