Buyers trying to keep more control
The USDJPY moved up to a trend line on the hourly chart around the London fixing, and has since been able to extend above that trend line. The move, however, has NOT been able to reach and get above the 100 hour MA (blue line in the chart above) at 109.228 currently (and moving lower). A move above that line is the next target that would give buyers more confidence.
The price is back down and retesting the underside of the broken trend line. Buyers need to come in here to keep the technical bias more buy oriented (intraday).
Looking at the 5-minute, the pair is testing the 50% of the move down from Friday's high.
The price swing low (at green circle 3) stalled just ahead of the lower trend line, and later based against the 200 and 100 bar MAs before moving higher (green and blue MA lines in the chart below). A move below the 50% now would look to retest those MAs at 108.85-88 area.
