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Third wave of descending impulse

12 April 2016, USD/JPY

No significant changes here.

The pair continues its downward momentum decline caused by the wave iii of [v].

Thus, further drop is expected to resume wave pairs due to the development of [v] wave , but before that, a correction must be prolonged, which can begin soon.

So, before opening of short positions, we are better to wait for completion of this correction

Vasiliy Lukin
FreshForex Analyst
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