USDJPY – look to be dip buyer as wave-E lower is unfolding

Yesterday’s follow through rally to 118.87 satisfied symmetry between waves-a & c of this rally from 115.86. This a-b-c rally can mark all of wave-D as this move nearly reached the ideal 119.10 target (.618 x wave-B). Both of these signals suggest that a wave-E decline began with last nights BOJ comments.

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