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- Canadian Imperial Bank of Commerce (based on Bloomberg)
Pair's Outlook
A struggle with the rising support line at 130.30 continues, although it already seems that the bulls will have an upper hand in this battle. Still, the last bar (currently bullish) has not yet been closed, meaning there is still possibility we will not see an immediate rebound, being that the currency pair managed to fall through the trend-line and touch a cluster of SMAs with various period lengths.
Traders' Sentiment
Judging from the shares of long (47%) and short (53%) positions open on EUR/JPY, SWFX marketplace participants largely remain undecided where the pair is going to move next. A similar situation is observed among the pending orders, where the buy orders (56%) have a slight advantage over the sell ones (44%).
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