Dollar/Yen drifted upwards to 116.35 for much of the day but with the start of the US session resumed its drop.The drop paused at 115.60 and a corrective swing appears complete at 115.95.Dollar/Yen should drop into the 115.10/35 region today.The decline from 116.75 has a corrective structure so Dollar/Yen has the opportunity of resuming its rally.If the subsequent rise has difficulty holding above 116.35 then there will be scope for another drop.It will take a break of 114.65 to confirm that a new decline is underway.
Euro/Yen pushed into a new high yesterday and should complete the move around 149.00 today.The initial drop should hold around 148.00 and later it should drop back to 147.00.A break of that level will then put Euro/Yen on a decline to test key supports around 145.70.Only a strong rise through 149.00 will suggest that the rally can continue.
Aussie/Yen is only making a corrective move off its 89.10 high.With daily momentum resurging there is now a chance of the rally pushing towards 90.50.
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