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- RBC Capital Markets (based on CNBC)
Pair's Outlook
EUR/JPY rose slightly and it is still struggling to break the monthly PP at 141.70. The currency pair has not traded above this level since the very beginning of April; however, we expect it to break this resistance level. Pair's bears could expect the pair falling towards the 55-day and 100day SMAs at around 141.26, which is rather likely in near term.
Traders' Sentiment
The sentiment towards the pair has not changed since yesterday, the situation is still very stable with 53% being bearish. Bullish side of pending orders, however, increased by 2-9% and is at 52-53% gauge today depending on the range.
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