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    EUR/JPY climbs another step higher

    © Dukascopy Bank SA
    "We believe that the economic outlook, whilst not exactly rosy, is better than the headlines would suggest. There is the possibility that the BoJ could increase purchases of other assets, for example local government bonds or riskier assets." 
    - ING (based on FXStreet) 

    Pair's Outlook 
    The EUR/JPY currency pair was close to reaching a two-week high yesterday, but was pushed back down. Ultimately, the cross posted minor gains of just 13 pips; however, another attempt to stabilise at a fresh one-week high is to be made today. The 20-period SMA recently pierced the 200-period one to the upside, pointing on a possible surge above 136.00 in the near future. The 200-day SMA is now the nearest resistance, whereas a stronger cluster rests around 135.17, represented by the 20-day SMA and the weekly R1.  

    Traders' Sentiment 
    Trader's sentiment keeps improving, as 63% of all positions are now long, compared to 55% yesterday. The share of orders to purchase the Euro, on the other hand, takes up only 14% of the market.
    © Dukascopy Bank SA

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