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    Technical analysis of EUR/JPY for July 2, 2015

    General overview for 02/07/2015 05:10 CET

    As anticipated yesterday, the market is still moving inside of a tight range of a triangle formation between the levels of 135.68 and 137.51. It will be doing so as long as the pattern is completed. The short-term bias is slightly bullish due to unfinished wave progression to the upside, but any breakout below the level of 135.68 will be considered bearish with a possible test of the wave A blue low.

    Support/Resistance:

    133.75 - Swing Low

    135.68 - Invalidation Level | Intraday Support |

    136.13 - Weekly Pivot

    137.52 - Intraday Resistance (weak)

    138.04 - WR1

    138.09 - Intraday Resistance (strong)

    Trading recommendations:

    The market is still framed between two intraday levels and it is better to wait for a breakout in either direction.

    eurjpy_h1.jpg

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