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- Minori Uchida, Bank of Tokyo-Mitsubishi UFJ (based on Reuters)
Pair's Outlook
The rising trend-line at 93.18/92.50 appears to be sufficient in order to prevent development of a dip and is anticipated to trigger a surge that will initially encounter 93.52/48 and then aim for the 30-month high at 95.00. Nonetheless, the technical studies in a weekly and monthly perspectives are largely mixed, leaving us without a clear indication of a future direction.
Traders' Sentiment
Sentiment of the SWFX marketplace participants towards USD/JPY is stable. Longs continue to constitute 73% of the total amount of positions, while shorts are in a minority, taking up only 27% of the sum. Concerning orders, 67% of them are to enter the market with a buy trade and 33% with a sell one.
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