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    EUR/JPY keeps edging lower

    © Dukascopy Bank SA
    "If you look at today and yesterday it seems that ECB action is priced in. We think they will extend asset purchases and lower interest rates, but the most important thing is that they signal there is more to come. It is difficult to see the data between now and next Thursday moving the market much." 
    - Commerzbank (based on CNBC) 


    Pair's Outlook 
    The immediate support cluster somewhat failed at holding the losses, as only the cluster's final level was able to prevent a decline beyond 130.00. The EUR/JPY now risks edging lower for the fifth consecutive day, with the nearest group of levels to limit the losses located around 129.70, namely the Bollinger band and the weekly S2. Even though the channel's lower border was breached, the exchange rate could still return within the channel's borders next week, as the weekly S1 is now providing resistance at 130.14  

    Traders' Sentiment 
    Bullish traders' sentiment returned to its Monday's level of 74%, whereas the number of orders to sell the Euro increased by five percentage points. The commands now take up 64% of the market.
    © Dukascopy Bank SA

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