Even though the DOW closed near unchanged levels yesterday, it was able to post a higher high, trading up to 10595. We are focusing the next 24 hours on the Yen pairs and anticipate a breakout in favor of the majors. With that being said, we are going with momentum, and if the market continues in the opposite direction, we will be looking for a reversal as the short term bottoms seem to be in place. Today's analysis is fairly straight forward and we are waiting once again for the market to establish direction on increased volatility.

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