Following a sharp retracement from multi-month highs and a subsequent dip below 110.00 mark, the USD/JPY pair now seems to have stabilized in neutral territory. Currently trading around 110.20 level, the pair snapped its recent winning streak and reversed majority of its daily gains. In absence of any market moving economic releases, the current slide could be attributed to profit-taking following sharp post-US presidential election rally to the highest level since late May. Meanwhile, a slight deterioration in investor risk appetite, as depicted by weaker trading in European trading markets and cautious opening for the US markets, is extending support to the Japanese Yen's safe-haven appeal. Further weakness, however, remained limited as Fed rate-hike expectations continues to underpin the greenback and attracting fresh buying interest on every minor pull-back, confirming the major's near-term upward trajectory. The 1 hour chart suggests that the pair may correct further lower, as in the 1 hour chart technical indicators head south within bearish territory, but also that the decline could be limited, as the price remains well above its moving averages, with the 100 SMA heading sharply higher around 109.10. In the 4 hours chart, technical indicators have accelerated their declines within positive territory, while the 100 and 200 SMAs continue heading higher far below the current level. Overall, the risk remains towards the upside, but some profit taking could see the pair retreating down to the mentioned 109.10 price zone ahead of the end of the day.