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- Trader for a European bank in Tokyo (based on Reuters)
Pair's Outlook
USD/JPY pair has made a bearish correction yesterday, as the price has reached the 423% Fibonacci level at 90.92 and the Bollinger line. The currency pair is still in a very strong bullish trend, despite the fact that the RSI indicator has significant values in various timeframes, especially 82 points in a weekly graph. Therefore, any short position would mean unrewarded elevated risk.
Traders' Sentiment
SWFX market traders are slightly bearish on USD/JPY pair, as 43% of positions are long and 57% of positions are short. Pending orders segment is bullish, as 78% of waiting orders are for a long position and only 22% are for a short position.
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