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– Ray Attrill, NAB (based on Reuters)
Pair's Outlook
The US Dollar lost ground against the Japanese Yen, as the currency exchange rate depreciated during Monday's trading session. The main reason for that was the fact that the pair ended Friday's trading at 117.36, and with the start of a new week that mark was below a new level of resistance. The pair began Monday below the weekly PP at 117.39. It is possible that the pair will soon fall to the 116.54 mark, as there are no other support levels before that.
Traders' Sentiment
SWFX traders remained bearish on the pair, as 54% of open positions were short on Monday. Meanwhile, 56% of trader set up pending commands were to buy the Greenback.
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