Wave 5 complete and we gonna see more downside for the USDJPY?

Is wave 5 complete and more downside to come for the USDJPY. We think this is unclear at this point of time and we should be seeing some kind of choppy wave action at these levels with a bias to the downside. If you want to trade the dollar yen, go for quick scalping trades with a bias towards shorting the top of the range.

BEAR CASE
If you manage to enter for a short at market opening next week, the pair is good for a short.

BULL CASE
Going for longs here is like catching a falling knife. I'd be cautious for longs until a clear range is formed.