© Dukascopy Bank SA
- Canadian Imperial Bank of Commerce (based on Bloomberg)
Pair's Outlook
It seems that the pair prematurely received a bullish impetus from the weekly S1/100-day SMA which sent the pair back above 133 JPY. At the moment it is aiming at weekly PP/20-day SMA. We don't expect it to give up easily. It is likely the pair will trade sideways around 133.39 for some time.
Traders' Sentiment
Market sentiment has been exactly the same since the beginning of the week—55% of all traders expect appreciation of the pair as they hold long positions open; 64% of all pending orders are set in their favour as well.
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