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USD/JPY: wave analysis on 06.01.2016

A downward trend is strong.

Wave C of 4 of the senior level continues forming, within which, assumingly, an impulse is forming. Locally, the third wave iii of C seems to be forming and if the assumption is correct, the pair continues falling towards 117.00, 116.00. Critical for this scenario is the level of 120.60.


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