Thursday’s powerful impulse wave down in the Yen futures and the breach of the pattern’s midpoint suggest that the D target of 1.1003 will be reached.  Although this is near the very round number of 1.1000, it might produce a tradeable bounce as it is otherwise “in the middle of nowhere” on the chart.  If the pivot gives way, the area around the prior low of 1.0984 will tell the tale.  That low was a bounce from just above two convergent hidden pivots, including the one pictured here on March 17.  A print below 1.0960 will leave no doubt that both of those pivots are broken and that we should expect the Yen to continue falling.  (Posted by Doug McLagan)