Based on the Wyckoff evaluation I have been following the past weeks it is possible that we could be in a redistribution phase for the USDJPY. The previous accumulation phase bounded the market between 105 and 101 and this could occur again. The redistribution could extend to the next fib time zone in February 2017 as measured from the market peek of the distribution phase. Good volume spikes are indicate at the fib time zones. Will be looking for a drop on NFP on Friday back to the LML of the Pitchfork.
