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Descending impulse is still here

11 January 2016, USD/JPY

Bears seriously got down to business, not giving bulls a slightest respite and force the price lower and lower.

It is clear that we are dealing with a downward momentum, which at the moment is forming the wave iii.

This is probably the extended impulse wave and it is too early to talk about its end.

Thus, soon after a small correction, we expect continuation of impulse decline of the pair.

Descending impulse is still here

Vasiliy Lukin
FreshForex Analyst
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