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|Subject: Technical analysis of EUR/JPY for August 28, 2014 Thu Aug 28, 2014 1:49 pm|| |
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General overview for 28/08/2014 13:00 CET The impulsive wave progression to the downside has been developing properly during the last four days. Now, the outlook remains the same: more downside is being expected as the impulsive structure has not been completed yet. There is a possible test of the level of 136.76 but the the failure is expected and downtrend should resume. The first projected target is at the level of 135.67. Trading recommendations: The short orders from the last week are still opened and the TP is at the level of 136.70 with a quite possible downside extension to the level of 135.70.