$USDJPY was lower overnight as it consolidates some of Monday's rally.
Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends last week's decline, September's low crossing at .12631 is the next downside target.Closes above the 20-day moving average crossing at .12803 would temper the near-term bearish outlook. From a broad perspective, December needs to close above .12977 or below .12412 to confirm a breakout of this summer's trading range and point the direction of the next trending move.
First resistance is the reaction high crossing at .12922.
Second resistance is September's high crossing at .12977.
First support is September's low crossing at .12631.
Second support is August's low crossing at .12565.
