Being contained by the previous high resistance at 98.18, USDJPY pulls back from 97.43 level, suggesting that a short term cycle top has been formed on 4-hour chart. Further fall to test 93.55 is still possible in a couple of days, and a break below this level will signal deeper decline towards 90.92 (Oct 24 low) support. Key resistance is now located at 97.43, above this level will indicate that the fall from 100.54 (Nov 4 high) has completed, and the following up trend will bring price further to 100.00 zone.
