USD/JPY – 110.30
Most recent candlesticks pattern  : N/A
Trend                     : Down
Tenkan-Sen level             : 110.27
Kijun-Sen level                 : 110.47
Ichimoku cloud top            : 110.04
Ichimoku cloud bottom     : 109.80
Original strategy :
Sold at 110.20, stopped at 110.55
Position :Â – Short at 110.20
Target :Â –
Stop : – 110.55
New strategy :
Stand aside
Position :Â –
Target :Â –
Stop : –
Although the greenback jumped to as high as 110.81, lack of follow through buying on break of previous resistance at 110.73 and the subsequent retreat suggest consolidation below 110.81 would be seen and pullback to 110.00 cannot be ruled out, however, break of 109.75 support is needed to signal top is formed, bring further fall towards 109.38 but only break there would indicate the rebound from 109.11 has ended at 110.81, bring retest of this level later.
On the upside, above 110.50-60 would bring test of 110.81 but break there is needed to signal the erratic rise from 109.11 low is still in progress for further gain to 111.00 and possibly 111.20-30 but price should falter well below resistance at 111.71, bring retreat later. As near term outlook is mixed, would be prudent to stand aside in the meantime.
