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    USD/JPY: wave analysis on 19.05.2015

    Presumably, the correction in a form of the fourth wave 4, which has taken the shape of a triangle, is completed.  Apparently, the final wave e of 4 has formed locally and the first counter-trend wave (i) within the fifth wave of senior level is forming, up to a level of 122.00. The level of 118.84 is critical in this scenario as the breakout will enable the pair to continue declining to the levels 118.00–117.00.

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