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- Action Forex (based on investing.com)
Pair's Outlook
The common European currency extended its gains against the Japanese Yen during the first half of Thursday's trading session. During the move the rate also finally broke above the strong resistance cluster, which consists of four various levels of significance and was providing resistance at the start of the surge on Wednesday. Due to these developments the currency exchange rate has a free way up to the weekly R2, which is located at 121.11. Moreover, between the just mentioned resistance and the closest support level is a range of 100 pips.
Traders' Sentiment
Today 57% of all open positions are long (previously 56%), while 60% of all pending orders are to sell the Euro, up from 44% on Tuesday.
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