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- Western Union (based on Reuters)
Pair's Outlook
The Euro erased previous gains yesterday, as it dropped to a fresh one-week low. However, the losses were limited by the strong support cluster around 135.55, which is expected to cause the EUR/JPY cross to rebound today. The weekly R1 keeps providing resistance at 136.70, but the single currency will doubtfully close trade at that area, as technical indicators are now giving mixed signals. Nonetheless, the 136.00 major level should at least be retaken today.
Traders' Sentiment
Positions are equally distributed between longs and shorts today. At the same time, the number of commands to acquire the Euro gained two percentage points, up to 63%.
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