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USDJPY is forming a sideways consolidation in a range between 90.92 and 94.87. Rebound to 96.00 zone to reach the next short term cycle top on 4-hour chart is expected in a couple of days. However, the rise from 90.92 is treated as consolidation to down trend, deeper decline is still possible to 88.00 after consolidation, and a break down below 90.92 level will signal resumption of down trend.
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