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Thursday, January 23, 2014

USD/JPY - Look for an impulsive decline to begin any time now.

USD/JPY

Minor support at 104.20 much to my surprise protected the downside for a rally slightly above resistance at 104.75 - The high has been at 104.84 - However, I do expect this complex red wave ii to be over and will Again be loo´king for a break below minor support at 104.20 and more importantly a break below support at 103.94, which confirms, that red wave ii is over and wave iii lower towards 102.82 and lower towards 100.66 is developing.

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