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    Technical analysis of EUR/JPY for March 26, 2015

    General overview for 26/03/2015 10:10 CET

    The wave (b) blue turned out to be a little more complex than anticipated. The golden channel line bounced the wave progression back on track, suggesting more gains in this pair to come. The first resistance is the 50% Fibo at the level of 131.39 and then intraday resistance at the level of 131.65. Please notice, the impulsive wave progression in wave (c) blue might even get extended up to the level of 132.44 before any meaningful profit taking would take place.

    Support/Resistance:

    132.45 - 61%Fibo

    132.13 - WR1

    131.85 - Technical Resistance

    131.65 - Intraday Resistance

    131.39 - 50%Fibo

    130.16 - Intraday Support

    129.75 - Weekly Pivot

    Trading recommendations:

    Daytraders should consider opening buy orders from the current price levels with SL below the level of 130.15 and TP at the level of 131.39, with a possible extension up to the level of 132.44 later in the week.

    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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