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    Technical analysis of EUR/JPY for April 1, 2015

    General overview for 01/04/2015 09:50 CET

    The count had been slightly changed to indicate another possible labeling in the overall unfinished corrective structure. In this count, wave X brown hasn't been finished yet and the market is in the last stage of completing correction of wave c green. Please notice that three zones (bullish, neutral, and bearish) are moving as well and as long as the price is staying inside the yellow range zone. The corrective cycle in wave X brown might get more complex and time consuming. Only an impulsive breakout above the level of 130.37 would change the mid-term outlook for more bullish.

    Support/Resistance:

    126.89 - Swing Low

    127.55 - WS2

    128.44 - WS1

    128.60 - Intraday Support

    129.43 - Intraday Resistance

    130.02 - Weekly Pivot

    Trading recommendations:

    Daytraders should consider opening sell orders for intraday scalp from current market levels with SL above the level of 129.43 and TP at the level of 127.55.

    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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