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USD/JPY rebound limited to 122.25

Wednesday, July 8, 2015 3:54 AM UTC

Move down to 121.96 followed by rebound only to 122.25, pushing down again
Market very much risk off, Shanghai Composite off early low but still down large
Initial support at 121.70 on base of daily Ichi cloud
Stops below 121.70 large, break to target ascending 100-DMA at 121.06 level

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USD/JPY rebound limited to 122.25

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