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USDJPY Turning Into A CorrectionTop ↑  Our Services Video Tour | Subscribe to our newsletter Dec 15 2014 USDJPY has turned down last week and finally took out the trendline connected from around 105.00 which confirms the end of a five wave move within a black wave 3. As such, we expect a larger corrective retracement now in wave 4, with three subwaves down, for 38.2% compared to wave 3. In our case that level comes in around 115.50 so ideally more weakness will occur this month while 121.85 is in place. Once these levels will be seen, we will keep an eye on a new continuation higher, while price at 110.10 is not breached. Newsletter archive
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