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USD/JPY closed lower on Monday and the low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are diverging and are neutral to bullish hinting that a short-term bottom might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a short-term bottom has been posted. If it extends the decline off May's high, weekly support crossing is the next downside target.
