A bullish Cypher pattern has just been completed. You can take longs from here. I've set the targets but IMO, this pair is headed higher from around this point. There is a large bearish BAT that is potentially setting up (see my post about this: UPDATE: USDJPY Triple Bottom and 2 Potential BATs)
I believe this pair is headed to at least 125.500 to fill the CD leg of that large bearish BAT where it will again retest the recent highs (See my related post about: USDJPY - A Different Way to See What's Happening Long Term)