USD/JPY can be making a complex, seven-swing corrective decline, down from 111.72 level. We see price now in a final leg down after recent break out of a triangle pattern in B. We also know that triangles occur prior to the final move within a larger trend, so there is a chance that support will be seen later this month or in October, ideally around the 104.19/103.05 area.
That said, once wave C finds support, and we see an impulsive turn that is when a complex decline can be completed, and a bullish turn underway.
USDJPY, daily
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