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- Union Bank (based on Bloomberg)
Pair's Outlook
As it turned out, the bullish momentum of USD/JPY is still weak, since the currency pair failed to decouple from the support at 102.05/101.96. This is also evidenced by the technical indicators that remain largely mixed. Nevertheless, the rate is expected to recover in the long term, potentially up to the level of 104 at the end of this quarter.
Traders' Sentiment
The difference between the traders with long (73%) and short (27%) positions remains perfectly unchanged, as the price largely stays directionless. In the meantime, we have observed a significant growth of buy orders near the spot—their share has gone up from 66% up to 76% since the yesterday's report.
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