Correction: We noted earlier in the week that the USD/JPY was getting into a bit of consolidation after finding resistance at 80.66. So far we have seen some strong developments, such as a 61.8% retracement of the latest bull swing from 79.27 to 80.66. We also lost bullish momentum in the very short-term as the 1H RSI dipped kissed 30. In fact the RSI shows some bearish momentum building. Corrective count: When we look at the structure of the correction, we see a possible completion of an A wave (impulse structure), and a B wave (corrective structure). If the US Dollar-Japanese Yen is indeed in a corrective mode, ... (full story)