USD/JPY closed lower due to long covering on Friday as it consolidated some of the rally off last week's low. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are turning neutral hinting that a short-term high might have been posted with Thursday's high. If it renews last week's decline, November's low crossing is the next downside target. Closes above Thursday's high crossing are needed to confirm that a short-term bottom has been posted.
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