Pretty simple analysis on this one.
USDJPY is on a bearish bias, DXY (dollar index) is currently with a weak bullish sentiment entering a mix between BULLISH/BEARISH which could indicate weakness of dollar pairs.
We have right now a BOS (break of structure), nice bullish order block, and an imbalance to be filled before a possible continuation of the bearish movement.
Regards,
Team PRFX :)