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Scandex Market Update – June 9

Scandinavian Capital Markets

USDJPY plunged today. Price could bounce from the lower parallel of the short term fork near 108.00. Proposed resistance is the year open and center line at 108.75-109.00. Seasonal tendencies have turned down and the rally from the May low is in 3 waves. The implication is that the rally is complete as a correction and that price is headed for a break of the May low of 105.99.

Scandinavian Capital Markets Review

Source: https://scandex.com/2020/06/09/market-update-june-9/
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