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    Technical analysis of EUR/JPY for Febuary 9, 2015

    General overview for 09/02/2015 10:50 CET

    The corrective cycle in the wave 4 looks more complex than a simple corrective cycle but the overall bias still remains bearish. To continue to the downside, the price must break out of the golden corrective trend channel and violate the level of 132.32 in impulsive way. Otherwise, the corrective cycle might still continue to extend higher towards the level of 137.64. However, this move is possible only if the intraday resistance at the level of 135.36 is broken.

    Support/Resistance:

    136.74 - Key Resistance

    137.27 - WR2

    136.15 - WR1

    135.36 - Intraday Resistance

    134.22 - Weekly Pivot

    134.03 - Intrday Support

    133.11 - WS1

    132.32 - Key Level To The Downside

    Trading recommendations:

    Daytraders should consider opening sell orders from the current price levels with SL above the level of 135.36 and open TP level for now.

    eurjpy_h1.jpg

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    Sebastian Seliga neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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