The chart shows the movement after the reached high 99.66. I think it is corrective in nature and is developing as a double corrective combination with its second phase currently under way. I suggest it will turn out to be a triangle but there are also other alternatives. When the correction is over, one should expect new rise to 100 yen per dollar. With an eye on this I will look for entry level for a long position but only when I have a clear pattern. Until then I prefer to be flat.

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.