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ORBEX: Correction Could Take Prices Lower Before Bullish "Three"

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Orbex  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Wave Analysis USDJPY usdjpylong short-term usdjpyshort mid-term minor_correction ABC
5
0
trendanalysis chartpattern waveanalysis usdjpy usdjpylong short-term usdjpyshort mid-term minor_correction abc
The correction seeing on USDJPY could let prices fall a tad lower, providing a better structure for minor A.

This should be followed by a "three" correction, where minor B is going to offer some buying opportunities in the short-term before sliding lower towards the golden Fibonacci retracement level of 106.67.

Better remain patient for minor B to complete!

Trade safe

Stavros Tousios
Head of Investment Research
Orbex

This analysis is provided as general market commentary and does not constitute investment advice

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