USDJPY is forming a short term cycle top at 111.74 level, key support is at 109.12, a break below this level will confirm the cycle top, and further fall towards 105.00 is expected to follow. Near term resistance is at 111.74, break about this level will indicate lengthier correction to the down trend.
http://blog.forexcycle.com/647/short...ember-16-2007/