"No fractures have been detected in any part of the body and no serious traumatic pathologies were found," the team added.
Rossi's home grand prix at Mugello is the next round of the MotoGP championship on June 4.
A further medical bulletin will be issued on Friday, the team said.
Rossi had led the championship until last weekend's French Grand Prix at Le Mans, where he crashed on the last lap while battling for victory with Spanish team mate Maverick Vinales.
(Reporting by Alan Baldwin, editing by Greg Stutchbury)
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