/
 
USD/JPY closed higher on Friday and is challenging January's high crossing. The mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends last week's rally, December's high crossing is the next upside target. Closes above the 10-day moving average crossing would confirm that a short-term low has been posted.