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- German Deputy Finance Minister (based on The Wall Street Journal)
Pair's Outlook
In the past 4 days pair advanced almost 300 pips and it does not seem it is planning to slow down for the time being. Existence of strong bullish momentum is supported by the readings of technical indicators. However, the Stochastic indicator on weekly outlook is suggesting we might see at least some sort of bearish action. Probability of such turn of evens is especially high as pair approaches 110 JPY area.
Traders' Sentiment
Bears strengthened their positions by significant 8% and now they constitute for 61% of all market participants. At the same time, amount of pending buy orders increased significantly as well—at the moment they account for 80% of all pending orders.
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