The USDJPY has seen a push to the upside helped by yields moving back to the positive side. The 10 year yield is now up 3.733% up 3.1 basis points. The two year yield is at 4.467% that's near unchanged levels after trading lower earlier.
The move to the upside takes price closer to its falling 100 hour moving average at 138.835 (blue line in the chart above). Earlier in the Asian session the price briefly moved above that moving average line only to rotate quickly to the downside (failed break).
Getting and staying above the 100 hour moving average would be needed to give the buyers some more comfort. There is also a swing area between 138.74 and 139.092. The high price in the Asian session reached 139.345.
Move above those levels, and another swing level at 139.615 (see green numbered circles on the chart above) and the 200 hour moving average (green line) at 139.851 would be targets for buyers.
Stay below the 100 hour moving average at 138.835, would keep the sellers firmly in control. Of concern for the sellers, however) is that the low price today could not approach the low price from yesterday. Also yesterday's low price took out the November 15 low, but that break could not be sustained.
So there is some disappointment that could bother sellers and turn them back to buyers – especially if the 100 hour moving average can be broken and remain broken.