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- Barclays (based on Reuters)
Pair's Outlook
The Greenback was rather volatile following the NFP data release on Friday, ending the week with a fifth consecutive day of declines, but unable to fall below the 100.00 level against the Yen. Risk-on sentiment appears to have returned to the markets today, providing the US currency with an early boost and an opportunity to reclaim the 101.00 major level. However, in order for the Buck to stabilise higher, it is required to pierce the weekly PP at 101.13. We reckon a retake of the 101.50 mark is also possible, even though technical indicators are giving bearish signals today.
Traders' Sentiment
There are three quarters (75%) of all open positions being long today (previously 73%). At the same time, there are significantly more orders to sell the US Dollar, namely 68% of them, compared to 49% on Friday.
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