USD/JPY posted an inside day with a higher close on Monday as it consolidates some of the decline off April's high. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends the decline off May's high, last November's low crossing is the next downside target. Multiple closes above the 20-day moving average crossing would confirm that a short-term bottom has been posted.
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