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USD/JPY closed higher on Wednesday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If its extends the rally off November's low, October's high crossing is the next upside target. If its renews last week's decline, November's low crossing is the next downside target.

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