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- Mitsubishi UFJ Morgan Stanley Securities Co. (based on Bloomberg)
Pair's Outlook
Although the last two trading days were quite volatile for USD/JPY (last Thursday the difference between the high and low prices amounted to 180 pips), it has managed to settle above the area formed by 20, 55, 100 and 200-day SMAs. Still, it is facing a formidable resistance level at 99.36—monthly R1, which may delay the currency pair's advancement towards the September high at 100.62.
Traders' Sentiment
The portion of bullish with respect to USD/JPY market participant has decreased by two percentage points since the previous report. Nevertheless, the long positions are in an absolute majority—they take up 71% of the market. Concerning the orders placed on the pair, 73% of them are to purchase the greenback against the Yen.
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