Beleiving the trend is not yet exhausted completly I think a long setup is worth as drawn on the chart. Stoploss is set exactly at 30.June low. Target here is the near term resistance line around 123.90 - 124.10.
From the other side it starts being obvious that a started forming within the abovementioned resistance line and the medium term support line. This is suggesting that $/Yen starts reaching a medium term top and a bigger decline from around 124.00/20 can be expected later on.