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EURJPY – Second-wave correction to continue -February 8th, 2021

As shown on the 1H chart, wave (ii) is likely taking take the form of a zigzag. If so, the market will continue unfolding wave c of (ii) in the coming hours. Wave ((2)) might have been in place, so wave ((3)) of c should begin shortly. The main critical level for this scenario is 127.34. If the price goes through this level, there’ll be a green light for a massive bullish rally in wave (iii) of ((iii)), as shown on the 8H chart below.

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