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We're sellers temporarily towards 112.20

We're sellers temporarily towards 112.20 | 21 October 2021

21 October 2021, USD/JPY

We're buyers from 114.464 towards 115.65.

Wave Analysis:
After an impulsive wave count which started few days ago, the US Dollar is currently in a correction mode. We expect the current bearish price rally to be the continuation of a corrective we count but should not go beyond 112.02. If you are look at this chart right now, we recommend you step out of any buy positions expecting a correction towards 112.03 where we expect a rebound from. A break above the previous day's highest high may mean we are now continue much higher towards 118.00 and may extend even higher.
Trade Recommendations:
We're sellers temporarily towards 112.20
Bob Stan
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