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- Crédit Agricole (based on MarketWatch)
Pair's Outlook
As anticipated, pair breached 101 JPY. Current minor dip could be seen as traders capitalizing their gains therefore, as suggested by technical indicators, pair is likely to maintain bullish trend. This gives strong support for the pair testing the 103.7 soon. Short terms dips should stay above the 101 JPY.
Traders' Sentiment
Stance of the traders remains strongly bullish—73% of all open positions are long on the pair. However, share of pending long orders, decreased by further 2% and at the bears have a slight upper hand there—51% of all pending orders are set to go short on the pair.
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