USD/JPY closed slightly lower due to short covering on Monday as it consolidates some of last week's rally but remain above the 10-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI have turned bullish hinting that a short-term low might be in or is near. Multiple closes above the 20-day moving average crossing would confirm that a short-term low has been posted. If it renews the decline off May's top, last November's low crossing is the next downside target.