Yen may have confirmed my bearish suspicions with that drop; so it may be dropping to much lower levels soon

Wasn't it just a few days ago I posted saying that the yen might be heading for another leg down? Friday was a big step down, which may indicate it's happening. It didn't break under the April lows but it may have gotten too close to the May lows. I'd been thinking a bullish view would have had a leading diagonal in process, and that can have deep retracement pullbacks, but the main problem with that is that the rally looks like it only did a 3-wave ABC before this "pullback". I'm feeling that my suspicions were correct that the yen is heading south, but of course it won't confirm unless and until it violates the April low. The indicators are acting as they should from such a big drop, rolling over to weak levels.

I've been mentioning for a while a potential objective around $83, so maybe that will come into play. (Use the "Yen" label to find prior posts here on that topic.) Also, if it breaks the April low I'll post the monthly chart again so we can track whether the yen breaks uptrend channel support.

Be aware there is a much more bearish potential for the yen. It can be embarking on wave 3 of a large "C" wave (look at my most recent prior post here, under the "Yen" label, to see the scale of it on my monthly chart; also explaining why the high that the yen's been falling from is probably a B wave). If this proves correct, then the yen will have a drop that's very steep and deep.