USDJPY moved sideways in a trading range between 107.49 and 108.47. As long as 107.49 support holds, the sideways movement could be treated as consolidation for the uptrend from 104.44, a breakout of 108.47 resistance could trigger further upside movement to 109.00 area. On the downside, a breakdown below 107.49 support would indicate that the upside movement had completed at 108.47 already, then the pair would find next support level at around 106.70.
