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Initially, try to remove the face plate of your machine then use a aerosol spray lubricant for sewing machine (do not use wd-40). Spray the area of the needle bar mechanism. Specially the moving parts and joints/collar of the mechanism. You can also try to use hair blower before you spray the area just to melt the old lubricant possibly harden and gummed up.
If still, there is a worn bushing that need to replace so it require a repair. In this case you need to send your machine to repair shop.
Hope this information will be helpful.
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