USDJPY might be forming a cycle top at 98.88 level on daily chart. Pullback towards 95.00 is possible in next several days. However, above 98.88 will indicate that the uptrend from 93.85 has resumed, and further rally to re-test 101.43 previous high resistance could be seen to follow.
For long term analysis, USDJPY might be forming a cycle top at 101.43 level on weekly chart. Key support is at 93.53, a break below this level will confirm the cycle top.
