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We're long

We're long | 08 February 2023

08 February 2023, USD/JPY

We're long

USDJPY is on a downtrend. The market has been moving in form of a descending channel from major wave (I),138.43 to (129.72). The market is currently moving in form of a corrective 3-wave pattern. The price has already broken out of the upper trendline of this channel and has retested at (130.46). This has increased the probability of this pair buying. Again, there was a major zone at (130.46), the market has broken above this level and retested. I expect this pair to buy up to around,(135.07). We will mark this level as our major corrective wave c.

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We're long

Bob Stan
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