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Tuesday, January 28, 2014

USD/JPY - The correction from 101.71 has extended, but should be over soon.

USD/JPY

The correction from 101.71 has extended and become more complex, than first expected. However as long as resistance at 103.58 protects the upside I will be looking for a break below minor support at 102.46 that indicates green wave iii is developing, while a break below short term important support at 102.16 confirms green wave iii for a decline towards at least 99.88 and likely lower.

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