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- European Commission President Jose Manuel Barroso (based on The Independent)
Pair's Outlook
Pair has formed a new yearly high a few days ago and seems no to be relinquishing the bullish attitude. At the moment it is hovering slightly below the 143 JPY mark and we expect it to peak above it in the short term. As yearly high is an important psychological landmark we expect at least some bearishness then, maybe even a minor sell off, but the pair should maintain bullish demeanour. In case of an unexpected failure we do not expect the pair to fall below the 141 JPY mark.
Traders' Sentiment
Market sentiment became noticeably more bearish since yesterday. Short side of open positions expanded by 3 5 and is at 63% gauge today. At the same time, short side of pending orders expanded by 4% since yesterday and is at 34% gauge today.
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