Godzilla exhales a short stream of blue flame and can change direction by pressing the D-Pad. The longer you hold the Attack Button, the longer time the stream is exhaled. But the longer you hold the Attack Button, the longer it takes to recover from the attack. This power is technically not in the movies.
Atomic Ray = Down - Back + Attack
Godzilla's
Air Atomic Ray = Jump - Down - Back + Attack
While jumping, Godzilla's spikes surge with energy then it exhales a stream of atomic energy.