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Monday, 24 June 2013

EUR/JPY H1 Update

General Overview:

Previous Update is here:
http://elliottfxtrader.blogspot.com/2013/06/eurjpy-h4-update.html

Price is in a complex and time consuming corrective wave X and last 7 swing to the upside make it some sort of complex corrective pattern. That means more correction to the upside is anticiapted - no clear outlook right now.

Support/Resistance:

131.26 - Swing high
129.92 - 78%Fibo
126.92 - Weekly pivot
124.94 - Swing Low

Trading Recommendation:
Stay away until clear pattern emerge.

Seb

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