USD/JPY – 114.11
Most recent candlesticks pattern  : N/A
Trend                     : Near term up
Tenkan-Sen level             : 114.19
Kijun-Sen level                 : 114.19
Ichimoku cloud top            : 113.97
Ichimoku cloud bottom     : 113.91
Original strategy :
Buy at 113.85, Target: 114.85, Stop: 113.50
Position :Â –
Target :Â –
Stop : –
New strategy :
Buy at 113.85, Target: 114.85, Stop: 113.50
Position :Â –
Target :Â –
Stop : –
Although the greenback broke above indicated previous resistance at 114.45-50, lack of follow through buying and current retreat fro 114.74 suggest consolidation below this level would be seen and marginal weakness from here cannot be ruled out, however, reckon 113.75-80 would limit downside and bring another rise later, above said resistance at 114.74 would extend recent upmove from 107.32 to 115.00 but overbought condition should limit upside to another previous resistance at 115.51.
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 later.
