InstaForex - Analytics

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    Technical analysis of EUR/JPY for July 24, 2015

    General overview for 24/07/2015 09:30 CET

    The leading diagonal count had been slightly changed with the last wave -v- blue top moved to the level of 136.43 ( intraday resistance). Currently, the market is in a corrective cycle and first support is seen at the level of 135.34, right at the lower blue trendline. Only a sustained breakout below the intraday support at the level of 134.86 would invalidate the bullish scenario.

    Support/Resistance:

    134.86 - Intraday Support (strong)

    135.04 - Weekly Pivot

    135.34 - WR1

    135.85 - Intraday Support (weak)

    136.17 - WR2

    136.43 - Intraday Resistance

    Trading recommendations:

    Daytraders should consider opening buy orders from the levels closest to the intraday support with SL just below the level of 134.80 and TP at the level of 136.43.

    eurjpy_h1.jpg

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