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- Markit (based on CNBC)
Pair's Outlook
The pair erased Monday's gains and edged slightly lower. The EUR/JPY cross stumbled down to 133.80 after encountering a cluster of resistances around 134.32, thus the support level at 133.20 was left untouched. Judging by the weekly technical indicators, the single currency will most likely extend the losses, while the nearest significant support remains around the lower Bollinger band and weekly S1.
Traders' Sentiment
Bullish sentiment currently prevails in the market, as 55% of traders have an optimistic outlook towards the Euro and hold long positions. Moreover, the buy/sell ratio increased again, as the percentage of commands to purchase the Euro went up from 39% to 45%.
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