USD/JPY: wave analysis

December 4, 2014

Presumably, the “bullish” impetus is still being formed in the third wave. Locally, it seems that the final fifth wave (v) of iii is evolving, within which the third wave iii of (v) is being formed. If this assumption is correct, the pair will continue to rise up to the level of 120.20. Critical level for this scenario is 117.81. 

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