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    USD/JPY: wave analysis on 11.01.2016

    A downward trend is strong.

    Wave C of 4 of the senior level continues forming within which an impulse is developing.  Locally, the third wave iii of C seems to be developing and if the assumption is correct, the pair continues falling towards 116.00, 115.00. Critical for this scenario is the level of 118.76.

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