Being contained by the previous high resistance at 94.61, USDJPY pulls back from 94.46, suggesting that a short term cycle top has been formed on 4-hour chart. Sideways consolidation could be seen in a couple of days. However, further rise is still in favor, a break above 94.61 resistance will indicate that the fall form 110.66 (Aug 15, 2008 high) has completed.
