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    Technical analysis of EUR/JPY for July 17, 2015

    General overview for 17/07/2015:

    The bottom for the wave b green has been fount at the level of 134.75 and now the market is trying to break out above the dynamic golden trend-line resistance around the level of 135.26. Any breakout higher would lead to an immediate test of the weekly pivot at the level of 135.92.

    Support/Resistance:

    134.54 - WS1

    134.74 - Intraday Support

    135.26 - Intraday Resistance

    135.92 - Weekly Pivot

    Trading recommendations:

    With today's limited volatility, daytraders still should consider opening sell orders for intraday scalp only if the level of 135.06 is clearly violated (hourly candle close below this level), with SL just above the level of 135.10 and TP at the level of 134.54.

    eurjpy_h1.jpg

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