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03.02.2016 09:03 AM
Technical analysis of EUR/JPY for Febuary 3, 2016

General overview for 03/02/2016:

A three-wave corrective cycle to the downside looks now completed and further gains are anticipated. A breakout above the intraday resistance level of 130.81 will be the first confirmation of impulsive wave developing. A new high above the level of 132.23 will be the first target for bulls.

Support/Resistance:

133.69 - WR1

132.27 - Local High|Technical Resistance|

130.81 - Intraday Resistance

130.76 - Weekly Pivot

130.22 - Intraday Support

129.18 - WS1

Trading recommendations:

An uptrend might be resumed now, so day traders should consider placing buy orders from the current market levels with SL below the level of 130.21 and TP open for now.

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Summary
Urgency
Analytic
Sebastian Seliga
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