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Usd/Jpy Turns Up After Bearish Channel Breakout

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June 12 2012

Usd/Jpy was trading lower for few months now and formed a quite choppy and slow price action, which represents wave D of a huge triangle placed in wave IV), shown on a weekly chart. Recent prices reached our 78.00 projected level, from where an impulsive reversal occurred a week back, suggesting that wave D is finished and three wave recovery underway in E.


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