Euro Not out of the Woods versus Japanese Yen
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Trade Implications – EURJPY: Retail traders have been far less active in the Euro/Yen currency pair as the currency consolidates within a broad range. Yet this is indeed a sign that markets are coiling up for a much larger moves. As it stands our crowd sentiment indicator gives us a fairly neutral trading bias, but a sudden build in crowd buying would favor a further EURJPY breakdown.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.