USD/JPY – 111.11
Most recent candlesticks pattern  : N/A
Trend                     : Near term down
Tenkan-Sen level             : 111.00
Kijun-Sen level                 : 111.49
Ichimoku cloud top            : 111.71
Ichimoku cloud bottom     : 111.36
Original strategy :
Exit short entered at 112.00
Position :Â – Short at 112.00
Target :Â –
Stop : –
New strategy :
Sell at 111.45, Target: 110.45, Stop: 111.80
Position :Â –
Target :Â –
Stop : –
The greenback ran into renewed selling interest at 112.20 and has tumbled after Fed, reviving our bearishness and signaling the rebound from 110.62 has ended at 112.20, hence consolidation with downside bias remains for another test of said support, break there would confirm recent decline has resumed and extend weakness to 111.34 (previous resistance turned support) but reckon downside would be limited to 111.10-15 and support at 110.83 should hold from here.
In view of this, we are looking to reinstate short on recovery as the Kijun-Sen (now at 111.49) should limit upside and bring another decline later. Above 111.75-80 would defer and prolong choppy trading, however, price should still falter below said resistance at 112.20, bring retreat later.
