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August 12, 2012

USD/JPY remains directionless with bearish bias

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The USD/JPY rallied to a new weekly, and August high last week during the Thursday (8/9) session, only to fall sharply back in the consolidation zone roughly between 77.90 and 78.80. The 4H RSI reading remains stuck between 40 and 60, which reflects consolidation, as do the whipping moving averages ... FF News: Technical

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