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Latest impact: USDJPY Parabola Sky Objective 100 Refrains Steeper Correction
USDJPY Long Term Angle is Very Overbought; that is ok. It rallied 16 figures without correction; that is ok. Its Parabola since the rally began Oct’12 does not allow the pair to deviate from its current routing, targeting is calculated to be printed @ 100 as long as the parabola remains constructive, i.e. without a weekly close below.
The narrow time frame says that a light correction is on the hook, selling is typical at current level (9340), targeting 9220. Risk is maintained once a close above 9410 is triggered.