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    USD/JPY: wave analysis on 16.11.2015

    A decline is possible.

    Assumingly, an upward correction as wave B within the fourth wave (4) has formed. At present, last wave (c) of y of B seems to have finished forming and have taken the shape of an impulse with a truncated fifth wave. If the assumption is correct, it is logical to expect a decline towards 120.24. A critical for this scenario is the level of 123.44.

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