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29.12.2014 09:50 AM
Elliott wave analysis of EUR/JPY for December 29 - 2014

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Technical summary:

There is no real change here. We are still looking for a rally towards 148.36 to end the x-wave and set the stage for a new decline in wave y towards at least 143.50 and possibly even lower to 142.06. Only a direct break below support at 145.95 will indicate that the x-wave ended early, and the decline to 143.50 is developing.

Trading recommendation:

Our stop at 146.40 was hit. We will sell EUR again at 148.30 or upon a break below 145.95.

Summary
Urgency
Analytic
Torben Melsted
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