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    Technical analysis of EUR/JPY for March 25, 2015

    General overview for 25/03/2015 09:50 CET

    Wave (b) blue might be now completed, but the confirmation comes with the breakout of the level of 131.39. Now the market is heading straight into key resistance zone between the levels of 131.65 - 131.85 that should be used as a target for wave Y brown and the corrective cycle as a whole. Please note that any violation of the weekly pivot at the level of 129.75 is bearish and means that corrective cycle was finished sooner than expected.

    Support/Resistance:

    132.45 - 61%Fibo

    132.13 - WR1

    131.85 - Technical Resistance

    131.65 - Intraday Resistance

    131.39 - 50%Fibo

    130.34 - Intraday Support

    129.75 - Weekly Pivot

    Trading recommendations:

    Buy orders advised on Monday should be in profit and the TP orders should be set at the level of 131.65 with a possible extension upward to the level of 131.85. Please note the market can spike up to the TP zone very quickly and suddenly.

    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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