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- Capital Economics (based on ABC News)
Pair's Outlook
Pair is slowly moving towards the weekly R1. Dip above it would put September high on the map. However, due to the neutrality in the short and medium term technicals and send signal from short term Stochastic we expect that the pair will not breach these levels with ease. We are much more likely to expect it's failure in the near future. That would put 133.1 JPY and 132.3 JPY on the map. Dip below these two would put October low (around 131 JPY) on the map.
Traders' Sentiment
Both, the Euro and the Yen are sold in more cases than acquired across the board. It weighs on the market sentiment as it remains 52% bearish. Distribution of pending remains in favour of the bulls with the gauge at 66% (3% less than on Friday).
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