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- Western Union (based on the Wall Street Journal)
Pair's Outlook
Pair bounced off the 55-day SMA, at the moment is trading at the weekly and monthly PP and is testing 20-day SMA. Despite the recent bearishness we are seeing more and more signs that 131 JPY should provide enough of support for the pair to resume its recovery. If the pair dips below the 131 JPY we could see it trailing below 130 JPY and then to 128.7 JPY. All the downside risk would be uplifted if the pair peaks above 133.7 JPY. In such case 134.9 JPY would be put on the map as well.
Traders' Sentiment
Situation in the market is back on being rather uncertain as bulls and bears hold almost equal shares of all outstanding positions. Bullish side of pending orders decreased by 5% and is at 60% gauge today.
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