USD/JPY closed lower due to long covering on Friday as it consolidates some of this week's rally. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, January's high crossing at is the next upside target. Closes below the 20-day moving average crossing would confirm that a long-term high has been posted.
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