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USD/JPY closed sharply higher on Thursday signalling a possible end to the corrective rebound off last week's high. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends the decline off last week's high, December's low crossing is the next downside target. If it renews the rally off December's low, December's high crossing is the next upside target.