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    Technical analysis of EUR/JPY for April 22, 2015

    General overview for 22/04/2015 09:00 CET

    The supply zone between the levels of 128.57 - 128.77 is being tested for the fourth time (orange circles) as the impulsive wave progression in wave a purple is done. Currently, the market might pull back a little to make the wave b purple and then try to rally to the upside in the last wave c purple of the wave (c) blue. Please notice that any breakout higher above the level of 1288.78 is bullish for the short term and the next projected target is at the level of 129.94.

    Support/Resistance:

    129.94 - WR1

    128.57 - 128.77 - Supply Zone

    128.20 - Intraday Support

    128.01 - Weekly Pivot

    127.27 - WS1

    Trading recommendations:

    Daytraders should consider opening buy orders only if the level of 122.78 is clearly violated, with SL below the level of 122.57 and TP at the level of 129.94.

    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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