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30.10.2015 08:37 AM
Technical analysis of EUR/JPY for October 30, 2015

General overview for 30/10/2015 07:30 CET

The first two sub-waves of the corrective cycle had been completed and at least one more wave up is needed to complete the cycle. The next hurdle for the price is the demand breakthrough zone between the levels of 133.70 and 133.91 and the golden channel lower. Nevertheless, any breakout higher will result in an immediate test of the weekly pivot at the level of 134.31.

Support/Resistance:

131.28 - WS2

131.54 - 223%Fibo

131.58 - Intraday Support

132.28 - WS1

133.37 - Intraday Resistance

133.70 - 133.91 - Demand Breakthrough Zone

134.31 - Weekly Pivot

Trading recommendations:

Day traders should refrain from trading until the next trading setup will occur.

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Summary
Urgency
Analytic
Sebastian Seliga
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