There is no guarantee that the seller will be able to protect 111.40 / 70 if tested during the upcoming session. A price action study from mid 2017 shows the market range.
Thus, despite an aggressive breakout of 700 pips, which occurred in December, there is practically no long-term push, this range reaches as high as 114.50 and at least as year-to-date at least at 105.60.
Here are a lot of charts to analyze, but it's important to remember the range if you think about selling USDJPY right away.
So far, retesting the resistance area 111.40 / 70 followed by bearish price actions, such as the pin bar, could push the pair to support 110.00