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Instrument: EURJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 131.114 with take profit at 131.317.
Bearish Preference:
Sell position is envisaged if price trades below 130.727 with take profit at 130.475.
Fundamentals:
3:15 PM EUR Zone ECB President Lagarde Speaks.
Comment: EUR/JPY: Retail trader data shows 50.32% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Mar 10 when EUR/JPY traded near 129.31, price has moved 1.52% higher since then. The number of traders net-long is 15.02% higher than yesterday and 9.51% lower from last week, while the number of traders net-short is 20.51% lower than yesterday and 32.61% lower from last week.
Analysis: SCRUM Team
