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USD/JPY closed lower on Tuesday breaking out below January's trading range. The low-range close sets the stage for a steady to lower opening on Wednesday. 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. Closes above last Thursday's high crossing would confirm that a short-term bottom has been posted.