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USD/JPY: wave analysis on 14.01.2016

A downward trend is strong.

Wave C of 4 of the senior level continues developing, within which an impulse is forming. Locally, the third wave iii of C seems to be developing and if the assumption is correct, the pair continues falling towards the levels of 116.00, 115.00. Critical for this scenario is the level of 118.42.

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