The USDJPY pair fell from its resistance level on a 30 minute time frame. This resistance level was given in our analysis yesterday. The price is trading well below its 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirms bearishness for the pair. The USDJPY pair is also trading in a downward channel however, if the price does break out of this channel towards the upside, then it could be a continuation of a bullish flag pattern.
The RSI is showing some sign of deflection in relation to its price which means that the bias could be towards the upside.