Dynamics of the quantum system that consists of a cold atom in a modulated standing wave of light is analyzed using the time-dependent variational principle formulation based on squeezed coherent states. A group of ordinary differential equations describing evolution of two pairs of canonically conjugate variables (q(t), p(t); G(t), Π(t)) are derived where G(t) and Π(t) describe the quantum fluctuations of the system. It has been shown that a transition from the regular motion to the chaotic motion in G(t), Π(t) phase space. Quantum system seems to be capable to show the classical-like chaotic structure.