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- Forex.com (based on MarketWatch)
Pair's Outlook
As expected, before re-challenging the 55-day SMA, USD/JPY returned back to the support at 102. Now the currency pair appears to be in a better position to overcome 102.36/26 and thereby get closer to the resistance at 103.03/102.76, which in turn consists of the 100-day SMA and the monthly R1. Still, we should note that the near-term technicals are not in favour of a rally at the moment.
Traders' Sentiment
The share of long positions (71%) in the SWFX marketplace declined three percentage points, but the traders are still heavily biased towards U.S. Dollar's appreciation. As for the orders placed on USD/JPY, there is not significant difference between the buy (52%) and sell (48%) ones.
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