DislikedLooking at EJ as ripe tomato to short after minister comments
"Economy Minister Akira Amari denied Japan’s new government is actively targeting a weaker yen, taking to the international stage to argue that economic policy is instead aimed at defeating deflation. Japan is “absolutely not deviating from global standards,” Amari told the World Economic Forum’s annual meeting in Davos, Switzerland on Jan. 26. “I don’t comment on a foreign-exchange rate because it should be determined by the market. What we do is to implement policies.”
I only have ProfessionalCharts on this computer which won't move to allow extending lines beyond the current range so uploading a chart from here is pointless (and the accuracy isn't very reliable anyway), but I put a pull-back between 123.6 or 123.9 (could be 123.5 or 124). I have my Fibonacci for 23rd-24th the same as the move from the 15-17th and the 161.8% extension is the same range as 100% of the move from the 8th to the 13th though it doesn't line up with channel resistance I have, but again, ProfessionalCharts are not accurate -- i just use them to keep an eye on things when I'm not "working".
Looking at weekly and monthly charts, Yen pairs are still very expensive so I don't think that will be a reversal or correction; merely a pull-back to the support line of the bull channel with another leg up before we see a correction in April.
You can always make money tomorrow provided you don't lose it today.