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    USD/JPY: wave analysis on 22.01.2016

    The pair is in a correction.

    Assumingly, a formation of wave C of 4 of the senior level is nearing the end, within which a Bearish impulse is forming. Locally, the third wave iii of C seems to have finished developing, and a correction as the fourth wave seems to be forming. If the assumption is correct, the pair continues falling to 115.00 after the correction ends. A critical for this scenario is the level of 118.77.

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