USD/JPY - daily technical Forecast

 @ibtimes on June 13 2010 11:16 PM

USD/JPY closed higher on Friday as it consolidates some of last week's decline. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible near-term. If it renews last week's decline, the reaction low crossing is the next downside target. If it renews last week's rally, the reaction high crossing is the next upside target.

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