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    Yen rises against Euro on optimistic economic outlook

    © Dukascopy Bank SA
    "Some investors had been hoping for signs of easing from the BOJ, that did not happen. But the BOJ will be under pressure to ease later in the year because of weak inflation and a slowdown in China." 
    - Nordea (based on CNBC) 

    Pair's Outlook 
    The single currencies ended the day (Tuesday) higher against the Japanese Yen, climbing above the 135.17 resistance cluster. The 136.00 major level, however, was not reached, as the pair stabilised at 135.52. The Euro is currently losing positions, the BoJ leaving the monetary policy unchanged. The cross has already dropped as low as yesterday's opening price, but the 200-day SMA pushed the European currency slightly back. The bullish momentum might still be regained, although chances are relatively low. 

    Traders' Sentiment 

    Significantly less traders retain a positive outlook towards the Euro, only 48%, compared to 63% previously. The percentage of buy orders in the 100-pip range from the spot increased from 14 to 32%.
    © Dukascopy Bank SA

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