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    Technical analysis and trading recommendations on the Yen against EUR & GBP for February 16, 2015

    EUR/JPY This week, traders are focused on the situation in Greece. The outcome is a crucial factor for the Euro. In case if the Greece is pushed away from the Eurozone, the Euro will dismantle. Greece has reached no accord with the Eurogroup so far. Japan's GDP grew 2.2%, this gave an optimistic look in the Japanese economy. The economy crawled out from the recession in the Q4. On the hourly chart, the cross is forming higher lows and higher highs. The cross made a double top at 136.68. The weekly resistance exists between 136.68 and 136.77. If a weekly close is above these levels, it leads to 137.60 and 139.50. We recommend safe selling only below 134.50 with the targets at 134.00 and 133.70. The panic will be triggered below 133.60. The prices formed a base support between 132.38 and 132.28. For an intraday view, the resistance is set at 135.20 and 135.50. We recommend safe buying above 136.00 and selling below 135.00 with the targets at 134.75, 134.00, and 133.70.
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    GBP/JPY

    The prices are facing strong resistance on the daily descending trend line. The prices are making lower lows and lower highs on the daily chart. The prices are managed well to close above 50Dsma in the last 3 days. The weekly support exists at 181.30 and 181.00. The intraday support is placed at 182.10. We recommend safe selling below 182.00 and risky selling below 182.45 with the targets at 182.30, 182.00, and 181.10. We still recommend buying at 177.00. On the higher side, we recommend buying above 183.35 with the targets at 183.60 and 184.00.

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    Uitgevoerd door, Analytische expert
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