USD/JPY closed lower on Wednesday as it consolidates some of last week's rally. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are bearish hinting that a short-term low might be in or is near. 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 high, last November's low crossing is the next downside target.