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    Technical analysis of EUR/JPY for Febuary 12, 2015

    General overview for 12/02/2015 10:05 CET

    The current wave progression might be completed if we take into account the recent spike down to the intraday support at the level of 134.71. Nevertheless, to confirm this, the market must break below the golden trend line lower channel line and impulsively continue lower violating the weekly pivot and weekly pivot support at the level of 133.11. Please remember that this is a corrective wave 4 and there is one more wave to the downside expected that goes below the low of the wave 3 eventually.


    137.64 - Technical Resistance| Wave 4 Projected Target|

    137.27 - WR2

    136.68 - Intraday Resistance

    134.71 - Intraday Support

    134.21 - Weekly Pivot

    133.11 - WS1

    Trading recommendations:

    Any breakout below the level of 134.71 is bearish and daytraders should consider opening sell orders only. Please set the SL rather tight (20-30 pips) and TP at the level of 134.21 and 133.11.


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

    Uitgevoerd door, Analytische expert
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