USD/JPY should soon break below minor support at 139.28 to confirm that wave B finally is done and wave C lower to 116.78 now is in motion. As we said in our last USD/JPY update, any break above resistance at 140.43 would cause a new high for wave B, but it will be short-lived and that's exactly what was seen. A break above resistance at 140.43 caused a new high at 141.50, but it was very short-lived and the quick turn lower from 141.50 is a clear indication that wave B is done and wave C lower now is in progress.
