• Trades off 0.1% near the middle of a 157.18-157.50 range - Japan holiday

• Biden expected to announce decision on Nippon Steel bid for US Steel today

• US Steelworkers' union criticizes Nippon Steel deal, no long-term commitment

• Charts- USD/JPY consolidates around the horizontal Tenkan line this week

• 157.05 Tenkan line is resilient, then the easing 152.89 cloud top supports

• Mixed 5, 10 & 21-day moving averages as daily momentum studies flat line

• Uptrend stalled - 158.00/10 caps after proving resilient in December

• 155.97-156.02 range base towards the end of December is strong support

• Close below the 155.97 Dec range base or above 158.10 should be directional
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)