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USDJPY: Elliottwave analysis looking for more downside

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Apr 7, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Revised short term Elliottwave structure suggests decline from wave ((X)) at 113.8 is unfolding as an impulse 5 waves structure where wave ((i)) ended at 111.98, wave ((ii)) ended at 112.67, and wave ((iii)) is in progress. Internal of wave ((iii)) is also in impulsive structure and wave (iii) of ((iii)) is expected to complete at 108.58 – 108.98 area, then it should bounce in wave (iv) of ((iii)) before the decline resumes in wave (v) of ((iii)). We don’t like buying the proposed bounce in

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