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    USD/JPY: wave analysis on 22.05.2015

    Supposedly, the first counter-trend wave i of 5 has formed within the fifth wave of senior level. Apparently, a descending correction in a form of wave ii is developing locally. If the presumption is correct, after correction, the pair will continue to rise to the levels 122.00–123.00. 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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