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USD/JPY: wave analysis on 18.06.2015

The pair continues to decline.

The formation of the “bullish” correction as the wave (ii) has completed. Locally, it seems that the third wave (iii) is being developed within the “bearish” impetus with the at 120.35. If this assumption is correct, and the price does not break out the critical level of 124.45, the pair is likely to go down to 120.35–119.00.

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