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    Technical analysis of EUR/JPY for April 30, 2015

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    Technical outlook and chart setups:

    The EUR/JPY cleared the resistance at 131.50 yesterday as we can see on the 4-hour chart view. We reccomend to buy on dips from here on. The area of interest to initiate long positions is seen around 128.00/129.00. Also note that fibonacci 0.618 support and the resistance turned support trend-line is also converging around the same region. It is recommended to initiate long positions around 128.00/129.00 on a bullish bounce. Immediate support is seen at 130.30 followed by 128.00 and lower while resistance is seen at 134.00 and higher respectively.

    Trading recommendations:

    Flat for now. Looking to buy lower.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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