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- JP Morgan Chase & Co. (based on Bloomberg)
Pair's Outlook
USD/JPY pair demonstrates unlimited expectations about a monetary easing expansion from the BoJ. The price has increased to the highest level since 29th of June, 2010, breaching all important levels and increasing even more a value of the RSI. In a daily graph, the RSI is 72.2 and in a weekly graph it is 82.1. So, the pair is strongly overbought, as this statement is also supported by a weekly graph, where the price is higher by 100 pips from the upper line of a Bollinger band.
Traders' Sentiment
SWFX market investors reduce bearish sentiments for USD/JPY pair, as 43% of positions are long and 57% are short. Pending orders segment gradually loses its extremely bullish sentiments, since 74% of orders are for a long position and 26% for a short.
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