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    Elliott wave analysis of EUR/JPY for February 12 - 2015


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    Technical summary:

    As expected, after the break above 135.36, the correction from 130.14 has extended higher towards 137.65 as the ideal corrective target. In the short term, we are looking for a minor consolidation before the final rally higher towards the ideal corrective target to end wave (iv) and set the stage for the final decline lower to 125.98 to end the c wave of the expanded flat correction, that began at the 145.69 high in late December 2014.

    Trading recommendation:

    We are looking for a EUR selling opportunity at 137.55 and will place our stop at 138.90.

    Uitgevoerd door, Analytische expert
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