Like on Ebay US, there is a watchlist programmed in to Yahoo Japan. There is also a very convienient place to log into where you can check all the auctions you have bid on, as well as the ones you have won.
Here you have the front page of Yahoo Japan. Note the link indicated in the corner.

Once you click the link indicated above, you will be presented with this page of options. Pay attention to my notes in purple writing!

(See the subheadings for information on each link. Many notes will be in purple writing on the screen captures themselves. I am not going to cover the "Selling" link since I have never, and most likely will never, sell anything on Yahoo Japan.)
The Watchlist Link.
To put something on your watchlist, go to item details page for the auction that you want to put on your list. The link to put the item on your watchlist is in the upper right section of the item details page. See the link circled below.

Once items are on your watchlist, they can be viewed using the watchlist link on the page of options pictured above. The watchlist page will look like this.

And for a completely SNAZZY little feature, when you have something on your watchlist, the Yahoo Japan computer will automatically e-mail you a reminder (with a link to the auction) when the auction is coming close to ending! If you want to remove something from your watchlist, simply check the box next to the item number of the auction you want to remove and then click either button (the one at the top of the list, or the one at the bottom).
Items will stay on your watchlist as long as the auction is still open. Once the auciton closes, it will disappear from your main watchlist, but can be still accessed. Clicking the link you see circled above allows you to see a list of closed auctions which were on your watchlist when they were still open. Auctions can be removed from this list of closed "watchlist" auctions by the same method as from the main watchlist - check the box next to the auction title on the list and then click either button.
The Bidding Link.
Clicking the bidding list link will take you here. The page is a list of all auctions on which you are bidding. It is arranged identically to the watchlist page and is pretty self-explainatory. Auctions will disappear from this list once they are ended.
The Won Items Link.
Once you have won an item it is put in this list. The nice thing about the list of items won is that it makes it very simple to keep track of feedback that you need to leave! If you can't remember if you have left feedback for an auction, simply click the link. If you have already left feedback for a given auction, the screen to leave feedback will show your previous feedback at the top. It will only show feedback left for *that* particular auction - it will not show any feedback left for different auctions that were won from the same seller.

There will be more on this page later as I continue to investigate the features of Yahoo Japan.
(Please send any comments, corrections to, or questions about this page to me by clicking on Dragon, the fishie you see below.)

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