USD/JPY – 114.05
Most recent candlesticks pattern  : N/A
Trend                     : Near term up
Tenkan-Sen level             : 113.88
Kijun-Sen level                 : 114.06
Ichimoku cloud top            : 114.28
Ichimoku cloud bottom     : 114.14
Original strategy :
Bought at 113.85, Target: 114.85, Stop: 113.50
Position :Â – Long at 113.85
Target :Â – 114.85
Stop : – 113.50
New strategy :
Hold long entered at 113.85, Target: 114.85, Stop: 113.65
Position :Â – Long at 113.85
Target :Â – 114.85
Stop : – 113.65
Although the greenback retreated after rising to 114.74 yesterday, as dollar found support at 113.69 and has rebounded, retaining our bullishness and consolidation with upside bias remains for gain to 114.40-45, however, break of said resistance at 114.74 is needed to confirm recent upmove from 107.32 low has resumed and extend gain to 115.00 but overbought condition should limit upside to another previous resistance at 115.51.
In view of this, we are holding on to our long position entered at 113.85. Only 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.
