Below the 50% midpoint. Above 200 hour MA
The USDJPY is the marginally higher on the day, but the technical bias is neutral.
Looking at the hourly chart, the price has been able to extend back above its 200 hour moving average at 109.855 and its 100 hour moving average at 109.911, but it found sellers leaning against the 50% midpoint of the trading range since August 11. That level comes in at 109.950. The high price reached 109.96.
Being above the 200 hour moving average is a modest bullish play. Being below the 50% retracement and the 100 hour moving average (blue line at 109.91) is a modest bearish play. The market is neutral intraday.
Over the last 9+ trading days, the up and down trading ranges only been 85 pips. The 100 and 200 hour moving averages have started to move sideways and crisscross back-and-forth. That is indicative of a market that is non-trending that is trying to find its next directional bias.
For now, buyers are coming in between 109.41 and 109.479. Sellers are coming in between 110.221 and 110.263. Both are on alert for the next shove either higher or lower outside of the trading range.
US yields are lower with the 10 year yield down -1.7 basis point. The 30 year is down the one minus -0.6 basis point. Lower yields tend to week the USDJPY.
US stocks are higher led by the NASDAQ index which is up 0.84%. Higher stocks can lead to a move higher in the USDJPY (and other JPY pairs).
So even those markets are pushing and pulling the USDJPY.