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    Technical analysis of EUR/JPY for September 30, 2015

    General overview for 30/09/2015 09:15 CET

    It is the third day in a row when this pair is trading around the weekly pivot at the level of 134.77 with no intention to breakout through one of the important levels. Despite the fact that the golden trend line had been violated, there is no continuation to the upside. This is another clue that the current wave progression might be a part of a more complex and time consuming wave (b) pattern.

    Support/Resistnace:

    131.80 - WS2

    132.22 - Technical Support

    133.13 - Wave (b) Bottom

    133.40 - WS1

    133.92 - Intraday Support

    134.77 - Weekly Pivot

    135.36 - Intraday Resistnace

    136.36 - WR1

    Trading recommendations:

    Daytraders should refrain from trading and wait for more clear pattern to occur as moment is not good to make any trades.

    eurjpy_h1.jpg

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