We performed a novel phase-sensitive microwave reflection experiment which directly probes the dynamics of the Josephson plasma resonance in both the linear and the nonlinear regime. When the junction was driven below the plasma frequency into the nonlinear regime, we observed for the first time the transition between two different dynamical states predicted for nonlinear systems. In our experiment, this transition appears as an abrupt change in the reflected signal phase at a critical excitation power. This controlled dynamical switching can form the basis of a sensitive amplifier, in particular, for the readout of superconducting qubits.