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"A December rate increase has been factored in. The focus is on when would be the next and how fast they were going to raise rates subsequently, and they wouldn't be in a hurry."
- Sumitomo Mitsui Trust Bank (based on Market Watch)
Pair's Outlook
The Greenback managed to rebound from the up-trend on Wednesday and even tested the immediate resistance in face of the weekly PP. Even though the support remains relatively strong, risks of it getting breached persist, as the trading range between the up-trend and the weekly PP is narrowing. The USD/JPY was unable to pierce the given pivot point through most of the week and is likely to struggle at doing so today as well. However, there is still room for a 20-pip surge and technical indicators are bolstering this outcome.
Traders' Sentiment
Bears keep gaining numbers, with nearly three quarters (74%) of all open positions being short. Meanwhile, the portion of orders to acquire the US currency remains unchanged at 56%.
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