USD/JPY closed slightly lower on Monday and above the 20-day moving average crossing confirming that a short-term bottom has been posted. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are oversold and are turning bullish signalling that a short-term bottom has been posted. If it extends today's rally, February's high crossing is the next upside target. Closes below Thursday's low crossing are needed to renew the decline off January's high.