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USD/JPY closed higher on Wednesday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends the decline off this month'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.