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-Martin van Viet, ING Financial Markets (based on Financial Times)
Pair's Outlook
EUR/JPY is still trading in rather tight range, but tested 99 mark today. Outlook on the pair is neutral, but technical indicators suggest that new trading week might start with a sharp drop to weekly pivot S1.
Traders' Sentiment
Traders sentiment became bullish as proportion of traders holding long positions increased to 57%. For the fourth day in a row, 80% of all pending orders are buy orders indicating that traders are waiting for pair to breach a major resistance level.
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