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| USD/JPY closed slightly higher on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are overbought and are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing would temper the near-term bearish outlook. If it extends this month's decline, the 62% retracement level of the rally off March's low crossing is the next downside target. |


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