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Elliott wave analysis of EUR/JPY for November 11, 2015


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Wave summary:

We continue to expect resistance at 133.19 to protect the upside for a break below support at 131.45 confirming continuation lower to 124.54 in wave iii. In the short term, a break below minor support at 131.85 will confirm test of the more important support at 131.45 and below here should accelerate prices lower to 124.54.

Trading recommendation:

We sold EUR at 132.08 with stop placed at 133.25.

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