/
 
USD/JPY closed sharply higher on Thursday and above the reaction high crossing confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, January's high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term bullish outlook.