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27.10.2015 07:57 AM
Technical analysis of EUR/JPY for October 27, 2015

General overview for 27/10/2015: 07:00 CET

In a larger time frame, the current wave development suggests a completed ABCDE triangle pattern in wave B blue. To validate this pattern, the market must rebound impulsively from the current levels and gain more upward momentum to break above the golden trend line. Any violation of the level at 132.21 will invalidate the triangle scenario.

Support/Resistnace:

133.65 - Intraday Support

134.25 - Intraday Resistance

134.31 - Weekly Pivot

135.24 - WR1

Trading recommendations:

Day traders should consider buying on dips in this market, with SL below the level of 133.13 and TP at the level of 134.25.

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Summary
Urgency
Analytic
Sebastian Seliga
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