On H4 chart we can see that 20 MA and 50 MA are still falling as well as on the hourly chart. The price currently is testing 109.994 as our intraday key support. Hourly stochastic is almost oversold. My plan is to go short on USDJPY on bearish signal confirmation on a pull-back move to within the resistance area at 110.297-110.636 with 109.994 as target and 109.691 in extension.
If no pull-back occurs, a break below 109.994 possibly will be followed by deeper bearish move to 109.691-109.352.
Be careful if the market managed to break above 110.788 because it will turn the bias to bullish and possibly will push USDJPY up to 110.976-111.279.
Plan A: Sell on bearish setup confirmation within 110.297-110.636; target at 109.994 or 109.691
Plan B: Sell on break of 109.994; target at 109.691 or 109.352