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Pair's Outlook
The European currency declined against the Japanese Yen on Monday, with volatility limited by the 55 and 200-day SMAs. Due to lack of market movers, the given cross is expected to remain relatively unchanged, with a slight edge to downside, as technical indicators in the daily timeframe suggest. Furthermore, the 55-day SMA keeps providing support around 133.31, whereas the 200-day one, along with the Bollinger band, is acting as an immediate resistance just above the 134.00 major level.
Traders' Sentiment
Although not as strong as yesterday, but SWFX traders' sentiment remains bullish at 72% (previously 74%). At the same time, there are now more commands to buy the Euro, namely 57% (up from 53%).
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