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07.09.2011 01:10 PM
USD/JPY Wave Analysis for September 7, 2011

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Yesterday the market was highly volatile which provoked rather a dynamic expected though USD/JPY growth to 77.70. In spite of this, the pair still moves within a horizontal range of a current correction. However, yesterday’s maximum probably marked the end of C, B and C waves of a horizontal triangle. If this is the case, the price will recommence a downward movement to a 76.50 level forming a future D wave of the triangle.

Chin Zhao,
Analytical expert of InstaForex
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