USD/JPY – 112.26
Most recent candlesticks pattern  : N/A
Trend                     : Near term up
Tenkan-Sen level             : 111.88
Kijun-Sen level                 : 111.83
Ichimoku cloud top            : 111.47
Ichimoku cloud bottom     : 111.41
Original strategy :
Buy at 111.60, Target: 112.60, Stop: 111.25
Position :Â –
Target :Â –
Stop : –
New strategy :
Buy at 111.60, Target: 112.60, Stop: 111.25
Position :Â –
Target :Â –
Stop : –
The greenback has surged again today on active cross-selling in yen, adding credence to our bullishness and signal the rise from 108.82 low is still in progress, hence further gain to 112.40-45 (50% projection of 108.82-111.79 measuring from 110.95) and possibly 112.75-80 (61.8% projection) would be seen, however, price should falter below 113.00-10 today, risk from there is seen for a retreat later.
In view of this, would not chase this rise here and we are looking to buy dollar on pullback but at a higher level as 111.50-60 should limit downside. Below minor support at 111.46 would defer and suggest top is possibly formed, risk weakness to 111.10-15, break there would confirm, then test of support at 110.95 would follow.
