USDJPY stays in a trading range between 75.96 and 77.85 for several weeks. As long as 77.85 resistance holds, the price action in the range is treated as consolidation of downtrend from 85.51, and another fall towards 70.00 is still possible.
For long term analysis, USDJPY is in downtrend from 124.16 (2007 high). Further fall towards 70.00 could be expected after consolidation.
