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- Capital Economics (based on The Wall Street Journal)
Pair's Outlook
Pair is continuing to demonstrate the propensity to advance above the 142 JPY, but wasn't able to do so whole last week. We do not expect it will manage to do so until the end of the week either. In case it starts the new week above the 142 JPY, we are almost certain we will see some bearishness and the pair will return below the mentioned level. However, it should not trail much lower than that in the short term.
Traders' Sentiment
For the second day in a row there is effectively no change in the market sentiment. Bulls continue to account for 40% of all of the market participants. Bullish side of pending orders increased by 1% since yesterday and is at 70% gauge at the moment.
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