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- Deutsche Bank AG (based on Bloomberg)
Pair's Outlook
The recent fall continued its presence as the pair slid down 139 pips from 142.769 to 141.379, the monthly S2 level. To the downside, the next support level, that should lead to some bounces in the EUR/JPY performance is the September 2014 high at 141.252. Currently, the pair seems to be in a slightly oversold condition due to the continuous decline from the beginning of December last year, where the pair reversed the direction.
Traders' Sentiment
Market participants increased the number of their opened positions from 46% to 50% of traders going short. Meanwhile, the 50– pip buy pending orders have declined from 54% to 33%, whereas the 100– pip ones increased for 2%, up from to 48%.
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