If my projections hold true for the and the smaller pattern, this will also complete a potential as well.
The 124-124.130 level is critical because it marks the most recent major MONTHLY swing high and is also at the minor 70.7 fib level. I expect that there will be many sell orders sitting there waiting to be triggered so I am expecting a large reversal at that level.
But I will caution that any reversal will NOT trigger a MAJOR TREND change as I am expecting that prices will eventually reach to the 133-135 levels. See my USDJPY for those projections and reasons why I think this.
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