USD/JPY closed lower on Tuesday as it extends the decline off May's high. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain 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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