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On the level

16 August 2016, USD/JPY

The Japanese currency is dominating, but below there is a strong round level 100.00, to which the price has already responded several times. The wave pattern also has a chance to draw the bullish scenario. On a rebound from the level, we will witness formation of the wedge, which at the moment is the wave [i] in the form of a zigzag. At the same time, development of the wave [ii] must be over.

If this assumption is true, in the near future we can expect beginning of growth in the form of a simple Zigzag in wave [iii]

Vasiliy Lukin
FreshForex Analyst
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