$USDJPY

$USDJPY  closed lower due to profit taking on Monday as it consolidated some of last week's rally. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. 

Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews last week's rally, July's high crossing at .12854 is the next upside target. If September renews this month's decline, the reaction low crossing at .12514 is the next downside target. 

First resistance is last Wednesday's high crossing at .12778. 

Second resistance is July's high crossing at .12854. 

First support is last Monday's low crossing at .12556. 

Second support is the reaction low crossing at .12514.