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    Technical analysis of EUR/JPY for April 10, 2015

    General overview for 10/04/2015 12:45 CET

    The Elliott wave development for this pair might suggest another possible pattern labeled here as waves ABC black that represents completed form of a corrective cycle in wave 2 black (or A blue). The next sub-wave development looks like an impulsive wave progression to the downside that had started with a leading diagonal and hasn't finished yet. Currently, the market is in the last stage of this wave progression and the projected target is at the level of 126.89.

    Support/Resistance:

    126.89 - First Target Projection

    127.62 - WS2

    128.24 - Intraday Resistance

    129.39 - WS1

    Trading recommendations:

    Now, all sellers should keep eye on the level of 126.89 as a target for all sell orders because a market bounce/reversal is expected from there.

    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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