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    Technical analysis of EUR/JPY for April 8, 2015

    General overview for 08/05/2015 08:10 CET

    As mentioned yesterday, the wave five upward price progression has been completed. Now, the market is ready to continue the decline lower. The first clue comes with a wave five decline from the top of 135.97 for the wave B and now, as long as the intraday resistance at the level of 135.17 is not violated, the key downside continuation level is intraday support at the level of 134.16. A break out lower would mean that the weekly pivot might get tested and even violated.


    139.97 - Swing High

    135.17 - Intraday Resistance

    134.16 - Intraday Support

    133.34 - Weekly Pivot

    Trading recommendations:

    The sell orders from yesterday should be still kept open and any break out below the level of 134.16 provides another selling opportunity with TP at the level of 133.34.


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    Sebastian Seliga neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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