USD/JPY – 114.34
Most recent candlesticks pattern  : N/A
Trend                     : Near term up
Tenkan-Sen level             : 114.04
Kijun-Sen level                 : 114.02
Ichimoku cloud top            : 113.99
Ichimoku cloud bottom     : 113.76
Original strategy :
Buy at 113.40, Target: 114.30, Stop: 113.05
Position :Â –
Target :Â –
Stop : –
New strategy :
Buy at 113.80, Target: 114.80, Stop: 113.45
Position :Â –
Target :Â –
Stop : –
Although the greenback rebounded after finding support at 113.54 and gain to resistance at 114.45-50 cannot be ruled out, break of this tough level is needed to retain bullishness and confirm early upmove has resumed for headway to 114.75-80 and later towards 115.00 but overbought condition should limit upside. If said resistance continues to hold, then further consolidation would take place and another retreat to 113.40-45 cannot be ruled out but 113.15-20 should hold, bring another rise.
In view of this, we are looking to buy dollar on pullback as 113.80 should limit downside and bring another rise later. Below support at 113.54 would abort and prolong consolidation, risk weakness to 113.20-25, however, reckon support at 112.96 would remain intact, bring another rise next week.
