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- Westpac Banking Corp (based on Bloomberg)
Industry outlook
As long as the currency couple is capped by resistances at 104.75, 105.32 and 106.60/78, the price is likely to carry on moving sideways. In case a support level at 103.08 is breached, the dip then might extend down to 100.77.
Traders' sentiment
In EUR/JPY market the common currency is also gaining trust of liquidity consumers, as the portion of long trades is continuously growing and at the moment is 58.82%. Short trades, on the other hand, comprise 41.18% of the market.
Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 104.36, 104.67 and 105.30.
Short position opened
Key support for EUR/JPY intraday trading is situated at 103.73. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 103.41 and 102.78.
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