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Latest impact: USDJPY Ladder-like Wave
USDJPY implemented a daily close above the 23% Fib Line = 7870 of the declining zone that started in Mar’12. This is the second time this close is seen to happen in 6-week, where the first took place below Ichi whilst the latter above Ichi, helping to put the readiness on for a climb.
Targeting 7940, we are anticipating a limit entry set at 7845 and adding at 7710, whereas positioning risk is set on a close below the STL @ 7785.