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    USD/JPY: wave analysis on 02.07.2015

    The pair is still likely to fall.

    Presumably, the third wave of the senior level within the four-hour timeframe continues to develop. Locally, the first wave (i) of iii is probably finished, and the upward correction as the wave (ii) is forming. If the assumption is correct, after correction is completed the pair continues to decline to the level 124.35. The key level is 124.34 the breakdown of which would lead to the resumption of growth.

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