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- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
Although last week EUR/JPY stayed below the area created by the monthly pivot and the simple moving averages for 20, 55 and 100 periods, today it is making yet another attempt to rise and until now is successful. If this resistance is overcome, as suggested by the technical indicators on the daily and especially on the monthly time-frames, then the monthly R1 will become exposed.
Traders' Sentiment
SWFX market participants' sentiment towards EUR/JPY at the moment is neutral, being that the difference between the shares of long (48%) and short (52%) positions is insignificant, although on average in its crosses the Euro is bought more frequently (46%) than the Yen (32%).
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