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    Technical analysis of EUR/JPY for November 24, 2015

    General overview for 24/11/2015 10:30 CET

    An ending diagonal scenario is unfolding well as another sub-wave down has been completed. A growing bullish divergence between the price and momentum oscillator supports the view that an anticipated upside breakout will materialize soon. A breakout above the weekly pivot point at the level of 131.13 will be another indication of increasing upside momentum.

    Support/Resistance:

    129.96 - WS1

    130.33 - Intraday Support

    130.64 - Intraday Resistance

    131.07 - Intraday Resistance

    131.14 - Weekly Pivot

    131.58 - WR1

    Trading recommendations:

    Day traders should consider placing buy orders only if the level of 131.06 is clearly violated, with tight SL and TP set at the level of 131.41.

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