Forex technical analysis: USDJPY dips to session lows as trader start the auction process

Softer tone in the new trading week

The USDJPY corrected modestly higher on Friday – basing against the 200 bar MA on the intraday 5-minute chart (see green line in the chart below – that low came in at 111.32) and extending to a NY afternoon session high of 111.75.  

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