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    Technical analysis of EUR/JPY for July 3, 2015

    General overview for 03/07/2015 13:35 CET

    The corrective cycle in wave b green ( alt: -iv- blue) evolves into more complex and time-consuming one as the fundamental factors from Greece weight on the current market rate. Nevertheless, the triangle idea is still valid as well as the impulsive count and the outlook is still bullish. Please remember that any breakout below the level of 135.68 will invalidate the main count (wave b green triangle) and put the alternative count ( wave -iv- triangle) in charge. Any new low bellow the level of 133.76 invalidates both counts.

    Support/Resistance:

    133.76 - Swing Low

    135.68 - Intraday Support

    136.03 - Weekly Pivot

    137.52 - Intraday Resistance

    138.04 - WR1

    Trading recommendations:

    Daytraders should refrain from trading until next week due to the fundamental factors based on Greek referendum on Sunday.

    eurjpy_h1.jpg

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