width=478
 
USD/JPY closed lower on Monday as it extends this month's trading range. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends the decline off January'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.