The USDJPY stepped higher with the higher rates last week.
The move to the upside took the price back above the 200 and 100 hour MAs (green and blue lines). The correction lower on Friday ahead of the better than expected NFP report, stalled right at the converged 100/200 hour MAs near 114.78 and pushed higher.
Today yields are consolidating a bit. That has led to a tilt to the downside in the pair, but the pairs price is stalling near support defined by the 50% of the 2022 range, and the rising 200 hour MA (green line currently at 114.953). The 100 hour MA is below those levels at 114.827.
It will take a move below each of those levels to give the sellers more control. Absent that, and the buyers are still more in the drivers seat at least in the short term.