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USD/JPY closed higher on Wednesday as it extended some of this month's decline. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, March's low crossing is the next downside target. Closes below the 20-day moving average crossing would confirm that a short-term bottom has been posted.