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USD/JPY: May Revisit The June Highs

USD/JPY: May Revisit The June Highs

USD/JPY made a three wave decline from June highs down to 120.43 low which we see it as a corrective structure that appears completed because of a broken channel resistance line. As such, we think that pair will revisit the high from early June but after a pullback down into wave (b) that can occur from 124.36 where wave (a) may find a temporary resistance.Elliott Wave Analysis – USDJPY 4h

USD/JPY 4 Hourly Chart

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