I'd tweak your setup. For one, have the bag suspended at about the same height as your head while in a semi-crouched stance. Two, give the line enough slack (but not too much) so that the bag will response like that of a punch.

I like the fact that you're moving around the bag, but don't just wait for the bag to stop moving, control it with your jab. You'll be jabbing solidly for the most part, but when you need to get the bag under control you use some quick non-committal, tapping jabs to keep it in control.

If you stop moving, have a good reason for doing so, otherwise you become a stationary target which is easier to hit.

A fun thing you can do is to hit the bag squarely with a hard right, which causes the bag to recoil violently like a counter punch. As it springs toward you, can slip it or let it bounce off of the heel of your glove. You can imagine throwing counters this way, catching and counter-jabbing, or slipping and then countering.

Try to control the bag, and don't worry to much about missing. In boxing, sometimes a missed punch can tell you something about your opponent. it can give you insight of their defensive patterns, and it can also invite them to throw a counter-punch. If you're thinking a step ahead you can defend against it and throw your own counter.

Anyways when you're hitting the bags, no matter which one, box it like an opponent. Treat it respect, imagine counters that you must avoid, and be alert about your mistakes. If you miss then use it to your advantage. Move in and out of range while circling, changing angles to set up a path to land a particular punch. Anything you can do do in the ring, see what can be done on the bag. You can be creative, really try to bring your imagination into your work as you treat the bag like an opponent.