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- Andres Lipstok, head of Estonia's central bank (based on Bloomberg)
Pair's Outlook
The recovery of EUR/JPY stalled today after the announcement Bank of Japan is not going to introduce additional measures to stimulate its economy. If bullish scenario takes place today, then 102.14 level will be the first in focus among investors, whereas a breakout here would indicate a reiteration of the bullish trend. In case bearish scenario emerges, 101.09 is going to be the first support line. If it is successfully pierced, 98.40 (S2 Weekly) and 97.34 (January 2012 low) are going to be exposed for the bears.
Traders' Sentiment
Presently, overwhelming majority of investors hold short positions on EUR/JPY (86%), while 14% of traders keep long positions. Within the 100-point range from current market price, the sentiment remains bearish on this currency couple.
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