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Wait | 16 June 2020

16 June 2020, USD/JPY

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Wave Analysis

The Us Dollar continues to consolidate despite the previous forecast that it could plunge to the lower side. As long as the price does not break below the previous week's lowest low, We remain on the sidelines, but should the price break and close below 106.690, then this could be a good place to pick a long term sell position with an ultimate target around 105.00. And on the flip side, a break and close above the Friday's highest high could be a good indication that we are heading to the upper side.

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Bob Stan
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