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USDJPY, Elliot Wave Analysis

2/17/2023 10:20 AM

Growth is possible.

On the daily chart, the third wave of the higher level 3 formed, and a downward correction ended as the fourth wave 4, within which the wave of the lower level c of 4 formed. Now, the development of the fifth wave 5 has started, and the wave i of 5 is developing. If the assumption is correct, the USD/JPY pair will grow to the area of 138.20–142.17. In this scenario, critical stop loss level is 129.64.

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