USD/JPY – 113.39
Most recent candlesticks pattern  : N/A
Trend                     : Near term up
Tenkan-Sen level             : 113.37
Kijun-Sen level                 : 113.61
Ichimoku cloud top            : 113.68
Ichimoku cloud bottom     : 113.20
Original strategy :
Buy at 113.20, Target: 114.20, Stop: 112.85
Position :Â –
Target :Â –
Stop : –
New strategy :
Buy at 113.00, Target: 114.00, Stop: 112.65
Position :Â –
Target :Â –
Stop : –
Although rose to 114.10 after opening higher yesterday, the subsequent retreat suggests consolidation below this level would be seen and pullback to 113.20 (50% Fibonacci retracement of 112.30-114.10) cannot be ruled out, however, reckon 112.95-00 (61.8% Fibonacci retracement) would hold and bring another rise later, above 113.80 would suggest the pullback from 114.10 has ended, bring retest of this resistance but break there is needed to confirm recent rise from 111.65 has resumed for headway to 114.40-50 but reckon 114.75-80 would hold from here.
In view of this, we are looking to buy dollar again on further pullback as 112.95-00 should limit downside and bring another rise. Below 112.65-70 would abort and signal top is formed instead, risk test of indicated support at 112.30 which is likely to hold from here.
