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    Technical analysis of EUR/JPY for November 18, 2015

    General overview for 18/11/2015 11:05 CET

    The market still trades inside the bearish zone, but any new dip is being bought back up. The current wave development is very choppy and full of false breakouts. Nevertheless, first bullish breakout confirmation comes with the breakout of the intraday resistance at the level of 132.19 with the target at the level of 132.80. On the other hand, the bearish breakout confirmation comes with the violation of the 131.11 level with the target at the level of 130.69.

    Support/Resistance:

    130.44 - WS1

    131.48 - Intraday Support

    131.81 - Weekly Pivot

    132.20 - Intraday Resistance

    132.36 - WR1

    Trading recommendations:

    Day traders should place buy orders at the current levels with SL below the level of 131.11 and TP, which is open now.

    eurjpy_h1.jpg

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