Rebounds off the lows.
The dollar fell after the comments from Yellen were released although she did not specifically say anything about monetary policy.
From a technical perspective, the USDJPY moved from the 100 bar MA on the 4-hour chart, down to the 100 hour MA at 109.31. The low actually extended to 109.265, but the pair quickly bounced.
The bounce off the low has retraced about 38.2% of the move at 109.483. The price remains below the close from yesterday at 109.543. The low in the London session stalled at 109.535. The 50% of the day's trading range is 109.55. That area is key - at least intraday. Stay below is more bearish.
The pair still needs to get and stay below the 100 hour MA at 109.31. Testing that level right now as I type.