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03.02.2014 01:46 PM
Technical analysis of EUR/JPY for Febuary 3, 2014

General overview for 03/02/2014 11:30 CET

There is the last wave to the downside missing before rebound should happen in this market. The target for wave (v) blue is at the level of 137.11 or a little bit lower at the level of 137.03. From that price area an intraday rebound is expected that should effectively test golden trend line or the technical resistance zone at the level of 138.25. If this level is broken, then the weekly pivot might be tested.

Support/Resistance:

137.11 - Target level for wave (v) blue

137.49 - Intraday Support

138.25 - Intraday Resistance

138.52 - Weekly Pivot

Trading recommendations:

For intraday scalpers: the level of 137.49 is the good level to open sell positions with SL above the level of 138.01 and TP at the level of 137.11.

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Summary
Urgency
Analytic
Sebastian Seliga
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