© Dukascopy Bank SA
- French Finance Minister (based on The Wall Street Journal)
Pair's Outlook
Pair seems to have lost momentum after touching 142 JPY. We almost certainly can state that a new high is being formed, but we lack signs to anticipate for a possible reversal. Stochastic in the highlighted horizons sends sell signal, but we do not think we should expect something more than a dip to weekly PP. Even if the pair, unexpectedly, falls below it the pair should not fall lower than the 139.35/138.85 area.
Traders' Sentiment
Bullish side of pending orders returned to 70% gauge today after a 11% decrease yesterday. Market sentiment itself is virtually unchanged after a 4% increase in bullish side yesterday. Bulls continue to hold 40% of all open positions on the pair.
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