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- Action Forex (based on investing.com)
Pair's Outlook
The Euro has been appreciating against the Yen ever since it put the support line at 118.40 to the test last Friday. Since then the given cross broke through a tough resistance circa 120.00 and is on its way towards the second tough supply area—the cluster around 121.35. Even though technical indicators are unable to confirm the possibility of the positive outcome today, the EUR/JPY pair is yet to reach the main target, namely the psychological resistance at 123.50. Once the Euro manages to stabilise above this area, then the trend shift will be considered as realised.
Traders' Sentiment
There are 56% of traders holding long positions today, compared to 57% on Thursday. Meanwhile, the share of sell orders lost one percentage point in the last 24 hours, having fallen to 59%.
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