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- Mizuho Securities Co. (based on CNBC)
Pair's Outlook
USD/JPY demonstrates significant bullish sentiments, as the pair reached the highest level in three and a half years. Presently the price is around a 96.00 benchmark, after a quick check of the monthly R2 at 96.37. The pair exceeds the daily Bollinger band and is very likely to go back into the band, as it defines an average standard deviation in last 20 trading sessions.
Traders' Sentiment
Investors enlarge long positions to 73% from 68% as the exchange rate increases. Pending orders provide similar numbers, as 78% of orders are placed to open a long position and only 22% to short USD/JPY.
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