USD/JPY – 112.00
Most recent candlesticks pattern  : N/A
Trend                     : Near term down
Tenkan-Sen level             : 112.37
Kijun-Sen level                 : 112.37
Ichimoku cloud top            : 113.00
Ichimoku cloud bottom     : 112.75
Original strategy :
Bought at 112.55, stopped at 112.20
Position :Â – Long at 112.55
Target :Â –
Stop : – 112.20
New strategy :
Stand aside
Position :Â –
Target :Â –
Stop : –
The greenback met renewed selling interest at 112.87 and has fallen again, dampening our near term bullishness for a much-needed correction and signaling recent decline is still in progress, hence downside risk remains for further weakness towards previous support at 111.69, however, loss of near term downward momentum should prevent sharp fall below 111.40 (50% projection of 115.20-112.26 measuring from 112.87) and reckon 111.00-10 would hold, bring rebound later.
In view of this, would not chase this fall here and would be prudent to stand aside in the meantime. Above the Kijun-Sen (now at 112.37) would bring recovery to 112.65-70 but only break of said resistance at 112.87-90 would signal low is formed, bring retracement of recent decline to 113.20-30 later.
