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- Standard Chartered (based on Bloomberg)
Pair's Outlook
USD/JPY is now facing serious risks, being that the up-trend line already seems unable to attract demand for the U.S. Dollar. A breach of 101.80 will further aggravate the overall outlook, but there will still be a good opportunity for the pair to recover. It is represented by the support at 101.20, which has been successfully denying all the previous dips in 2014 and may do the same a few times more in the future.
Traders' Sentiment
The share of the long positions contracted by four percentage points, but it did not influence the overall stance of the market that is 71% bullish and only 29% bearish. As for the orders, 63% are set to acquire the greenback against the Yen.
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