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USDJPY consolidates at lower levels.


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Still above the flash crash low

The USDJPY consolidates at lower levels but its low today was still 90 pips or so from the flash crash low on January 3rd (low reached 105.78 today with flash crash at 104.87).  We currently trade at 106.13.

Looking at the 5 minute chart, the pair is gonig sideways. The 100 and 200 bar MA are at 106.02-12. A run away from that intraday levels will be eyed, with sellers in control.  The pair has not been above the 200 bar MA for long over the last few trading days.  The weaker ISM has not pushed the price out of the MA levels ….yet.  

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