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USD/JPY closed higher on Tuesday as it consolidates above the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off December's low, December's high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the bullish outlook