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– Action Forex (based on investing.com)
Pair's Outlook
The common European currency continued to climb for third consecutive session against the Japanese Yen, as the currency exchange approached a level of resistance. The level of resistance is the weekly PP at 122.99. However, the pair had almost already reached the weekly pivot point on Wednesday. Although, the Euro retreated without even touching the resistance level. It is most likely that the rate will succeed in its second attempt at the resistance level, as it had already slightly pierced through it by mid-day on Thursday.
Traders' Sentiment
Today 54% of all open positions are long (previously 55%). At the same time, 61% of all pending orders are to sell the Euro (up from 55%).
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