USD/JPY closed higher on Monday as it consolidate some of last week's decline. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are diverging but have turned bearish signalling that sideways to lower prices are possible. If it extends the aforementioned decline, weekly support crossing is the next downside target. Closes above last Wednesday's high crossing are needed to confirm that a short-term low has been posted.
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