USD/JPY – 112.20
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 112.29
Kijun-Sen level : 112.05
Ichimoku cloud top : 111.45
Ichimoku cloud bottom : 111.26
Original strategy :
Buy at 111.40, Target: 112.40, Stop: 111.05
Position : –
Target : –
Stop : –
New strategy :
Buy at 111.70, Target: 112.70, Stop: 111.35
Position : –
Target : –
Stop : –
As the greenback has eased after rising to 112.48, suggesting minor consolidation would be seen and pullback to 112.00 is likely, however, reckon support at 111.69 would limit downside and bring another rise later, above said resistance would extend the upmove from 110.84 low towards previous resistance at 112.72 but reckon 113.00-10 would hold from here, bring retreat later.
In view of this, we are still looking to buy dollar on further pullback as said support at 111.69 would limit downside. Below support at 111.37 would abort and signal the rebound from 110.84 has ended instead, bring weakness to 111.05-10, then retest of said this week’s low at 110.84.
