The USD/JPY pair is trading in a side pattern on a 4 hour time frame. This means that there is no clear trend of the price. The price is also trading within the Bollinger band which reflects that the volatility is low and the price is trading close enough to its 20 day moving average which is again the confirmation of the lower volatility. In order for the price to to confirm that this side way pattern is no longer in plant it needs to first break the downward and the upward trend line.
The RSI has moved back up from its extreme low levels which is usually perceived as a point of interest for those who like to press the buy button because the price is trading in an over sold region. However how much it is valid when we have a side way pattern, there is a question mark on that. The MACD indicator has also moved higher from its low and it is trading in the direction of the price action and this reflects that the bias is towards the upside.