USD/JPY – 113.84
Most recent candlesticks pattern  : N/A
Trend                     : Near term up
Tenkan-Sen level             : 113.98
Kijun-Sen level                 : 114.01
Ichimoku cloud top            : 113.61
Ichimoku cloud bottom     : 113.45
Original strategy :
Buy at 113.40, Target: 114.30, Stop: 113.05
Position :Â –
Target :Â –
Stop : –
New strategy :
Buy at 113.20, Target: 114.20, Stop: 112.85
Position :Â –
Target :Â –
Stop : –
As the greenback has retreated after rising to 114.28 yesterday, suggesting consolidation below said resistance would take place and pullback to 113.60 cannot be ruled out, however, reckon downside would be limited to 113.40 and bring another rise later towards indicated strong resistance at 114.45-50 but break there is needed to retain bullishness and confirm early upmove has resumed for headway to 114.75-80 and later towards 115.00 but near term overbought condition should limit upside.
In view of this, we are looking to buy dollar on pullback as 113.15-20 should limit downside and bring another rise later. Below said support at 112.96 would abort and suggest top has been formed at 114.45, bring retracement of recent rise to 112.70-75 (61.8% Fibonacci retracement of 111.65 to 114.45) but previous resistance at 112.48 should hold.
