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    USD/JPY: technical analysis on 21.01.2016

    On the daily chart, the pair is trading in the lower Bollinger band. The price is consolidating just above the neckline of the “head and shoulders” pattern that has been forming since December 2014. The price remains below its moving averages that are directed down. The RSI broke out from the oversold zone but turned down again. The Composite failed to retest its December resistance and turned down.

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