USD/JPY closed higher on Friday and above the 10-day moving average crossing signalling that a short-term low is in or near. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bullish hinting that a short-term low might be in or is near. Multiple closes above the 20-day moving average crossing would confirm that a short-term low has been posted. If it renews the decline off May's high, last November's low crossing is the next downside target.
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