USD/JPY Technical Analysis for July 5, 2011

The USD/JPY fell on light volume during the Monday session, but managed to bounce back up. Because of the conflicting bearish and bullish candlesticks we are getting recently, we advise to stay out of this pair at this point. Although there are clear signs on a consolidation box between 80 and 82, it simply doesn’t seem worth bothering with at this point as we meander around these levels.

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