USDJPY 5 wave complete, possible downside to 124.00 next week

By | June 6, 2015

NonameUSDJPY has hit 124.55 resistance and it also happens to be formed in a 5 wave pattern on the daily chart. Furthermore, the 5th wave is an exhaustion bar. I think we should see a pullback to 124 support (wave 4 low) next week. The pullback to 124 should be slow.

 

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