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    Technical analysis of EUR/JPY for Febuary 25, 2015

    General overview for 25/02/2015 13:00 CET

    This market still trades inside the neutral zone and around the weekly pivot at the level of 1.2496. The consolidation takes a little longer than anticipated, but the bias is still bullish and the market should violate the upper golden channel line soon. Please, notice that currently the market is making wave b purple and this could take much more time than a usual corrective cycle.


    137.25 - 137.64 - Projected Target Zone

    136.90 - WR1

    135.58 - Intraday Resistance

    135.21 - Weekly Pivot

    134.43 - Intraday Support

    134.21 - WS1

    133.55 - Intraday Support

    Trading recommendations:

    The market is still trading inside the range zone, but daytraders should consider opening buy orders only when the level of 135.88 is violated with relatively tight SL (20-30 pips) and TP at the level of 137.25 - 137.64. Please, notice that the wave b purple might get more complex and time consuming, so it is safer to wait for an impulsive breakout above the level of 135.88 to trade it. Patience, please.


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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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