USD/JPY – 113.25
Most recent candlesticks pattern  : N/A
Trend                     : Near term up
Tenkan-Sen level             : 113.39
Kijun-Sen level                 : 113.26
Ichimoku cloud top            : 113.06
Ichimoku cloud bottom     : 112.67
Original strategy :
Buy at 112.85, Target: 113.85, Stop: 112.50
Position :Â –
Target :Â –
Stop : –
New strategy :
Stand aside
Position :Â –
Target :Â –
Stop : –
Despite intra-day resumption of upmove to 113.69, lack of follow through buying and the subsequent retreat suggest consolidation below this level would be seen and weakness to 113.00 is likely, however, break of support at 112.74 is needed to signal top has been formed there, bring retracement of recent rise to 112.40-45, then 112.20 but reckon 111.95-00 would hold from here.
In view of this, would not chase this rise here and would be prudent to stand aside for now. Above said resistance at 113.69 would signal recent upmove is still in progress and may extend further gain to 114.00 but loss of momentum should prevent sharp move beyond 114.25-30.
