USDJPY is still trading below a major falling trend line that we can identify on 3 days/daily charts. While the price is below that we remain bearish biased.
On a daily after a strong bullish wave from 103.2 level the price has perfectly stopped on that trend line. In the next two days we saw a clear indecision with a sequence of two weak candles.
Yesterday's daily candle closed engulfing the range of the previous two candles. It is a very strong bearish signal and based on that I expect a bearish continuation.