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