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Elliott Wave Analysis: USDJPY Undergoing A Temporary Recovery

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY             found a support at 102.50 from where we are now observing a new recovery, but a minor one as part of a bearish impulse. We are tracking wave four which will normally retrace for a 38.2% back to the area of a former wave four. This interesting zone comes in around 103.50, so we would not be surprised if a new sell-off will occur from there in sessions ahead. But once new lows will be seen, traders should realize of a bounce into a higher corrective structure. Keep in mind that after any five waves market makes a minimum three wave reversal!
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Do you short this one? I saw a little overlap wave 1!
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Do you do not short. The bounce from the 102 level is to sharp, meaning more bulls could take action.
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