The USDJPY has been hanging around the 200 day MA for most of the trading day. The value comes in at 79.21 today. The low extended to 79.155 in the Asian session. After rebounding to test the 100 hour MA (blue line in the chart below) and holding against that MA line, the last hour or so of trading, has seen the price move back to and just below (low reached 79.192.
So like the EURUSD, there is a battle between the buyers and sellers. There seem to be sellers against the 100 hour MA (79.365), buyers at the 200 day MA (79.21). The range is 22 total pips today.
