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    EUR/JPY jumped higher in spite of bearish signals

    © Dukascopy Bank SA
    "In the medium term, QE should revive inflation expectations. If on top of that you get improving signals from the economy, you will get a repricing in yields on the upside." 
    - UniCredit (based on Reuters)


    Pair's Outlook 
    On Wednesday, the Euro advanced versus the Yen. The Euro tested the monthly S1 before settling just under the weekly R1 around 130.45. On Thursday, a correction is likely to take place, and the technical indicators are giving bearish signals. A significant support level rests at 128.71, the present location of the weekly PP. Potentially, EUR/JPY might fully negate yesterday's losses and fall deeper towards the monthly S3. 

    Traders' Sentiment 
    The share of bulls in the SWFX market increased by one percentage point: 58% of all traders have a positive outlook towards the Euro. The quantity of buy commands decreased, and they account for only 30% of all the commands.
    © Dukascopy Bank SA

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