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30.01.2014 01:03 PM
Technical analysis of EUR/JPY for January 30, 2014

General overview for 30/01/2014 10:30 CET

The key level from yesterday has not been broken and higher prices had been rejected. After price had broken below 140.80 level the impulsive decline accelerated. Currently the five waves to the downside are almost done and the target for wave (v) blue is at the level of 138.56. Once this level is reached, the bounce is expected and test of the technical resistance at the level of 139.04 is anticipated.

Support/Resistance:

137.96 - WS1

138.56 - Wave (v) target level

139.04 - Intraday Resistance

140.17 - Weekly Pivot

Trading recommendations:

Short positions should be kept open until the target level is hit.

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Summary
Urgency
Analytic
Sebastian Seliga
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