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Wednesday, January 29, 2014

USD/JPY - Minor wave ii correction seems to over look for downside acceleration soon.

USD/JPY

Here too the correction has extended into a triple zig-zag correction, this correction does looks to be done and I will be looking for a break below 102.95 as the first indication, that green wave ii is over and more importantly a break below 102.60 that confirm green wave iii lower towards at least 100.35 and possible even lower is developing.

At no point can a break above 103.58 be allowed as that would force a short term recount.

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