As I’ve previously suggested, there are a couple of scenarios here. A drop below the $1480 area would put this one into play. Looking at the behaviour of the Stochastic indicator on longer timeframes, it would be normal to see the reading which is still in the 80’s, fall to somewhere in the 60’s, just as it did during most major consolidations in the last big bull run, shown on the chart below. That would set us up for $1400, maybe even a little lower, before we resume our march upwards towards the old highs.

My Yen chart from yesterday, lines up quite well with this idea, because it looks like it wants to pullback for another month or two.