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USDJPY, Elliot Wave analysis

11/1/2022 10:15 AM

The pair is in a correction, a fall is possible.

On the daily chart, the third wave of the higher level 3 ended, and a downward correction started as the fourth wave 4. Now, the wave of the lower level a of 4 is developing, within which a local correction is ending as the wave (iv) of a. If the assumption is correct, the USD/JPY pair will fall to the area of 140.13–136.82. In this scenario, critical stop loss level is 151.76.

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