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- President of the Germany's Federal Constitutional Court (based on The New York Times)
Pair's Outlook
Pair failed to consolidate above weekly PP and dipped below 141 JPY today. At the moment it is hovering slightly above it. We expect it to remain in the vicinity of this level. However, we might see periods of increased volatility, but it seems that only a peak above weekly R1 or dip below 140 JPY could provoke any major bullish or bearish action. Anything less should send the pair back to around 141 JPY.
Traders' Sentiment
Share of positions controlled by the bulls expanded further; today it as at 49% level, 1% more that yesterday. Besides that, long side of pending orders increases by 20-25% and is at 70-80% gauge depending on the range.
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