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USDJPY, Elliot Wave Analysis

12/27/2022 10:11 AM

A fall is possible.

On the daily chart, the third wave of the higher level 3 ended, and a downward correction develops as the fourth wave 4, within which the wave of the lower level a of 4 formed. Now, the wave b of 4 has ended, and the formation of the wave c of 4 has started, within which the wave (i) of c is developing. If the assumption is correct, the USD/JPY pair will fall to the area of 127.36–121.67. In this scenario, critical stop loss level is 138.00.

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