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Tuesday, February 18, 2014

USD/JPY - Look for wave B towards 103.42 before lower in wave C.

USD/JPY

The decline from the wave 5 top at 105.44 has not been the most clear wave structure I have ever seen, but my preferred count has wave A ending at 100.73 and wave B higher towards 103.42 is currently developing. Once wave B is in place we should see an impulsive decline in wave C lower towards at least 98.60 and possibly even lower towards 93.88 where wave C will be 2 times longer than wave A, but only time will show.

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