USD/JPY closed higher on Friday as it consolidated some of the late-May decline. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, this month's low crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term top has been posted.
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