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    Technical analysis of EUR/JPY for June 3, 2016 2016-06-03

    General overview for 03/06/2016:

    The projected target for the wave (c) of C was reached just as anticipated, so the overall structure might be now completed and the market might be ready to resume the long-term uptrend. To confirm this possibility, the price must breakout above the intraday resistance at the level of 121.89 and head higher in impulsive fashion.

    Support/Resistance:

    124.85 - WR3

    124.65 - Wave (b) High

    124.23 - WR2

    123.42 - WR1

    122.82 - Weekly Pivot

    121.99 - WS1

    121.89 - Intraday Resistance

    121.48 - Black Impulsive Count Invalidation Level

    121.40 - WS2

    121.04 - Intraday Support

    Trading recommendations

    All sell orders hit the TP levels and they should now be closed with profit. More trading opportunities to occur shortly.

    analytics57516b4264a89.jpg

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