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    Technical analysis of EUR/JPY for April 3, 2015

    General overview for 03/04/2015 12:30 CET

    Pre NFP wave development is quite clear in this pair. The market has made four impulsive waves to the upside and there is one more wave missing here to complete the impulsive cycle. The projected target is at the level of 131.00 with a possible extension upwards to the level of 131.85. Only a sustained violation of the level of 128.97 would invalidate this scenario.

    Support/Resistance:

    126.89 - Swing Low

    127.55 - WS2

    128.44 - WS1

    129.55 - Intraday Support

    130.02 - Weekly Pivot

    130.49 - Intraday Resistance

    131.00 - WR1

    131.85 - Technical Resistance

    Trading recommendations:

    Buy orders from yesterday should be closed with profit as the projected TP was hit and currently daytraders should consider opening buying the dips in the corrective cycle of wave -iv- with very tight SL (20-30 pips max) and TP at the level of 131.85.

    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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