Intraday Elliottwave Analysis: USDJPY, Beware a small top formation below 110.90
|USDJPY reached 110.37 in Asia market.
Daily oscillators already cross-over from the top of their range.
Below 110.90, we could not rule out a small top formation.
If so, today will not touch or close above 111.19.
Above here, will challenge another leg higher toward 111.70/95, or even 112.59.
We should be cautious before Fed Minutes released.
Daily support Levels: 110.29 110.24 110.14 109.94 109.66
Daily resistance Levels: 110.70 110.90 111.12 111.46 111.70 111.95
Intraday Trade Idea: (spot 110.47)
Sell Limit @ 111.55 SL @ 111.81 Take Profit @ 111.37
Buy Limit @ 109.94 SL @ 109.82 Take Profit @ 110.24
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