The USDJPY plunged today raising a few analytic eyebrows. We do not see this as a warning sign, in fact we're monitoring this pair for a possible opportunity to go long. The longer-term technicals paint a pretty picture for USDJPY with support just above 96.00 in the form of our Risk Tolerance Threshold Level - think balance line of the previous 3-month up-move - and a trendline just below that - see figure 1. We see recent volatility as a welcome sign and the current sell-off as a text-book market correction. More times than not high volatility such as we are seeing now marks the beginning of the end of market ... (full story)