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USD/JPY closed lower on Wednesday as it extends the decline off last week's low. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible near-term. If it extends the decline off last week's high, December's low crossing is the next downside target. If it renews the rally off December's low, December's high crossing is the next upside target.