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Thursday, 13 December 2012

EUR/JPY: What's next?

So far all correctiove movements were rather fast, shallow and did not last much in time, so it might be the time for some more complex and time consuming correction - but nothing is certain.

On chart there are two possible levels for wave 4 correction area, as discussed this morning.

Please notice that still the most probable corrective pattern of wave 4 is a triangle so buying the dips of EUR/JPY as along as orange recangle area is not broken down seems to be the way to trade this pair  for now.


Take care,

Seb

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