USD/JPY:
78.47
Very Short-Term Trend: Downtrend
Outlook: USD declined without rallying to 79.10 first and thus our short entry point was not elected Friday. As said before, I expect a move toward 78.05 before we can look for chances of a bottom. Based on the daily chart I still expect to see a low around this level and strong move up thereafter. But for now, the trend is lower and it should be respected.
Strategy: Stand aside.