Usd/Jpy Ready to Hit 78
July 21 2011
As expected, Usd/Jpy broke lower in the past week, from wave B) consolidation, which found a top at 81.47. From there we are monitoring an impulsive price action within wave C) which is still incomplete. Currently, the price is slow around the lows, which we believe its a corrective, sideways move, labelled as a wave 4. As such, we anticipate another push lower, which will be wave 5 of C).
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