Holding the support line
The USDJPY moved above the 200 hour MA (green line in the chart below), in yesterday's surge higher. Today there is a reversal of fortune and the price has corrected back toward that MA level at 119.77. The 38.2% retracement of the move up from Friday's low to the high reach today is also in that area at 119.807.
Traders are leaning against the support area to define and limit risk. Stay above and a move back to higher levels will be eyed with a continuation of the trend higher. Move below, and there should be stops triggered, with further liquidation toward 119.638 (50% retracement) and below that, the 119.48 area
