GdayFx said: Elliottwave international are calling for usdjpy to head into a multi month decline. Click to expand...

Yeah, but Jim Martens and his team are always calling for stuff with great conviction that never happens. It's an EWI thing. It's their SOP.As it happens, this time they may be right. A decline requires a strengthening Yen. Most people had come to believe that the current BOJ govenor, backed by a supportive PM, was going to successfully weaken the Yen to stimulate growth. For a while it seemed to be working but some of that effect was just the belief at work.Now it looks like the observed BOJ solidarity is more cultural than real and the further Yen weakening the governor wants to bring in (in the form of increased money supply) may not get up. If it doesn't then many players are caught heading the wrong direction and when they switch the "wave C" drop could be impressive.What I find interesting here is that the idea isn't dependent on significant USD change. It is more about the value of the Yen. Even if not a brilliantly strengthening Yen, a non-weakening one will achieve the same ends and will, of course, impact all the JPY pairs.Interesting article here: http://www.bloomberg.com/news/2014-07-21/kuroda-struggles-to-transform-boj-mindset-as-rift-seen-on-board.html