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Goldman Sachs: USD/JPY long-term bulls

According to strategists at Goldman Sachs, USD/JPY is now forming a low. The chart looks potentially very positive just as long as the 103.20 level (76.4% Fibo) holds as support. 

Goldman advises keeping a close eye on the pair long-term set-up where this could be the beginning of another 5-wave bullish sequence. As can be seen from the chart below, the pair could be forming wave 2 these days. 

JPY
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