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- Bank of Montreal (based on Bloomberg)
Pair's Outlook
This week has been good for the Europe's shared currency, as it successfully gained against the Japanese currency. The Euro's bulls pushed the pair towards the major level at 138 today; although, it seems EUR/JPY is not ready to breach the 138 mark yet. Nevertheless, if the pair remains supported around the current trading levels (monthly PP) then the 138 mark most likely will be approached again.
Traders' Sentiment
Today's move towards the major level at 138 encouraged some of the traders as the bullish sentiment rose towards 40%. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to buy—namely 63%.
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