The USDJPY moved higher in the Asian session. The Bank of Japan kept rates unchanged and did not address any thoughts of tightening.
The rise did extend toward the 115.00 level and also the falling 200 hour moving average. The high price came in at 115.05. That was just above the falling 200 hour moving average at 115.04. Sellers leaned and on the subsequent retest, found sellers against the level.
The fall to the downside moved back toward a swing area between 114.47 and 114.506. The falling 100 hour moving averages also in play at 114.40. The 50% midpoint of the move up from the November 30 low is also in play at 114.434.
A move below all those levels would increase the bearish bias for the pair. Conversely, find support buyers against level, and the buyers and sellers continue to battle it out between the moving averages. Watch the 114.65 to 114.694 area as an intraday clue. If there can be more momentum above that level, a rotation back toward the 200 hour moving average cannot be ruled out.