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