Evidence that favors bears:
1.) The rally from 95.72 is clearly corrective (3 waves).
2.) It is possible that the drop from 110.65 is a series of 1st and 2nd waves. If this is the case, then the decline will accelerate and the USDJPY will tumble in a 3rd of a 3rd wave soon. This outlook is intact as long as price is below 106.74.