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USD/JPY: Elliot wave analysis

Weekly. The pair keeps forming corrective wave [b] which is taking form of a long horizontal correction.

Chart. Daily USD/JPY

H4. US dollar keeps forming the falling wave (D) of the horizontal triangle. The pair is likely to form the waves (D) and (E) of this triangle.

Chart. H4 USD/JPY

H1. The wave (D) may take for of a Zigzag a – b – c. As a after the correction in the wave b is over, the decline will resume.

Chart. H1 USD/JPY

Roman Petuchov for FBS

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