Italy Markit Manufacturing PMI came in at 53.2 below forecasts (55) in January

Italy Markit Manufacturing PMI came in at 53.2 below forecasts (55) in January
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USD/JPY bounces-off lows just ahead of 121

The USD/JPY pair finally broke lower from its consolidative mode near the daily pivot as risk-off moods intensified on China slowdown concerns. The major now finds some support ahead of 121 handle and attempts a minor-recovery near 5-DMA.
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