We've had a test and nicked a pip under 112.00

111.99 the low according to BBG pricing and still the big figure and the 38.2 fib of the Nov rally offers support.

USDJPY H4 chart

Given how the level has been playing recently I'd hazard a guess that there's a fair few stops building below, probably somewhere around 111.90. The next support I have is down around 111.50, though it's more an area of 111.35-55/60. However, if the stops are big enough, they may blow through this level too. If so, look for signs of it becoming resistance. Certainly any run through 112.00 will see resistance there also.

This one might be good for a break short trade.