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Correction

24 May 2016, USD/JPY

We assume that after the completion of the descending impulse the diagonal triangle has been formed, the pair started to generate upward momentum.The wave i of the upward momentum looks completely formed, so current drop I treat as correction as well as the wave ii.

Probably, a correctional decline is not over yet, so in the near future, the drop will continue. Upon update of the local High, I will open Buy transactions.

Vasiliy Lukin
FreshForex Analyst
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