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- Morgan Stanley (based on Bloomberg)
Pair's Outlook
Judging by the technical indicators, USD/JPY is likely to continue having difficulties while dealing with the nearest resistances. Nonetheless, on a monthly chart the studies suggest that in the end the currency pair should be able to overcome the 100-day SMA and the monthly PP at 98.82/67 and thus pave the way towards the September high at 100.62.
Traders' Sentiment
There are relatively less long positions than yesterday—their portion in the market has decreased from 69% down to 67%, but they still preserve a substantial advantage over the short positions. Meanwhile, there has been a significant increase of the buy orders, from 62% up to 67%.
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