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Pair's Outlook
The US Dollar surged against the Japanese Yen on early Thursday morning. However, the gains were rather minor. The slight gains scored on Thursday morning were a continuation of the currency exchange rates late Wednesday's rebound against the weekly PP, which is located at 117.14. It is most likely that the currency pair will continue to surge, as not only the ascending trend is still viable, but also daily aggregate technical indicators forecast a surge of the Greenback against the Yen.
Traders' Sentiment
Traders remain bearish regarding the pair, as 59% of open positions were short on Thursday morning. However, 55% of trader set up orders were set up to buy the US Dollar.
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