USD/JPY – 80.69
Most recent candlesticks pattern : N/A
Trend : Down
Tenkan-Sen level : 80.52
Kijun-Sen level : 80.84
Ichimoku cloud top : 81.22
Ichimoku cloud bottom : 80.82
Original strategy :
Sell at 81.20, Target 80.30, Stop: 81.60
New Strategy :
Sell at 81.40, Target 80.40, Stop: 81.80
As the greenback has rebounded after holding above indicated support at 80.21, retaining our view that further consolidation would take place and above 80.82-84 (current level of the Ichimoku cloud bottom and Kijun-Sen) would bring retracement to the upper Kumo (now at 81.22) but intra-day resistance at 81.60 should hold, bring another decline later. A break of said support at 80.21 would signal downtrend has resumed and extend weakness to psychological support at 80.00, however, loss of near term downward momentum should prevent sharp fall below the record low at 79.75.
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