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    Technical analysis of EUR/JPY for November 25, 2015

    General overview for 25/11/2015:

    As anticipated yesterday, the intraday resistance at the level of 13078 has not been broken and the market has made another wave down to complete the wave 5 purple of the ending diagonal structure. The current projected target for wave 5 purple is at the level of 129.50 and a rebound from this level is currently expected.

    Support/Resistance:

    129.48 - WS2

    129.96 - WS1

    130.18 - Intraday Resistance

    130.78 - Intraday Resistance

    Trading recommendations:

    Daytraders should consider reopening sell orders from the level of 130.18 with tight SL and TP at the level of 129.50.

    eurjpy_h1.jpg

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