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    Technical analysis of EUR/JPY for July 21, 2015

    General overview for 21/07/2015 08:50 CET

    Sideways consolidation continues fter a successful intraday test of the intraday support at 134.36. The market is range bounded between the levels of 135.04 and 134.36. A breakout to the upside is being expected, but any breakout below the intraday support at the level of 134.36 would extend a downfall towards the wave A blue support at the level of 133.28.

    Support/Resistance:

    135.77 - WR3

    136.17 - WR2

    135.34 - WR1

    135.04 - Weekly Pivot

    134.74 - Intraday Resistance

    134.36 - Intraday Support

    134.23 - WS1

    133.89 - WS2

    133.28 - Swing Low

    133.09 - WS3

    Trading recommendations:

    Due to the sideways price action, trading advise is still valid: buying on dips is a way to trade on this market and daytraders should consider opening sell orders only if the level of 134.36 is clearly violated ( hourly candle close below this level).

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