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    Technical analysis of EUR/JPY for Febuary 18, 2015

    General overview for 18/02/2015 10:20 CET

    The wave (a) blue developed exactly as anticipated, and now intraday corrective cycle in wave (b) blue is in progress. This cycle might develop in different pattern, but when it is completed, another high should be made in this market. Notice that the projected target is at the level of 137.64 and a reversal is expected from this zone.

    Support/Resistance:

    137.74 - Technical Resistance

    136.71 - WR1

    136.35 - Intraday Resistance

    135.46 - Intraday Support

    135.20 - Weekly Pivot

    Trading recommendations:

    Daytraders should consider opening buy orders from the current price levels with SL below the level of 135.45 and TP at the level of 136.71 with possible extension upward to the level of 137.64.

    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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