""
 
USD/JPY closed lower on Monday as it extends this month's decline. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, March's low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term bottom has been posted.