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Euro gets the hugs, as dollar and yen stay unloved. […] "Yen depreciation has more room to go, in our view. We now look for the yen to depreciate to 96 and 100 versus the USD in 6 months and 12 months, respectively."
- Barclays Capital (based on Reuters)
Pair's Outlook
For the past 6 days pair has been trading in 100 pip range, but manages to maintain its bullish direction. As technicals point at further appreciation of the pair it might be that at the moment the pair is somewhat depressed under the Bollinger band and we might see a major move anytime soon, which happens rather often lately. It such case pair might take a brake once again when it will approach 93 JPY area.
Traders' Sentiment
In comparison to recent days share of bulls in the market increased substantially—from 51% to 56%. In addition to this, overwhelming majority, 84% to be exact, of market orders are to go long.
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