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    Technical analysis of EUR/JPY for April 7, 2015

    General overview for 07/04/2015 07:20 CET

    After testing the longer time frame trend-line the market reversed and is continuing to complete the wave (b) blue to the downside now. The first target for this wave might be intraday support at the level of 130.03 but in case of a breakout the next support is at the level of 61% Fiobo at 129.51. The bounce/reversal is still expected in this pair as there is uncompleted wave structure to the upside (wave (c) blue).

    Support/Resistance:

    131.67 - Swing High

    131.29 - Intraday Resistance

    130.03 - Intraday Support

    129.51 - 61%Fibo

    Trading recommendations:

    Still daytraders should consider to open buy orders from the level of 130.03 with SL below the level of 129.80 and TP at the level of 131.67.

    2015-04-07_eurjpy.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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