USD/JPY – 111.27
Most recent candlesticks pattern  : N/A
Trend                     : Near term down
Tenkan-Sen level             : 110.83
Kijun-Sen level                 : 111.10
Ichimoku cloud top            : 112.89
Ichimoku cloud bottom     : 112.54
Original strategy :
Sell at 111.85, Target: 110.45, Stop: 112.20
Position :Â –
Target :Â –
Stop : –
New strategy :
Sell at 112.05, Target: 110.85, Stop: 112.40
Position :Â –
Target :Â –
Stop : –
As the greenback has recovered again after falling to 110.24, suggesting consolidation above this level would be seen and test of resistance at 111.42 cannot be ruled out, however, reckon upside would be limited to 111.75-85 and renewed selling interest should emerge around 112.05 (50% Fibonacci retracement of 113.85-110.24), bring another decline, below said support at 110.24 would extend selloff from 114.37 top to 110.00 but loss of near term downward momentum should prevent sharp fall below 109.70-75, bring rebound later.
In view of this, would not chase this fall here and would be prudent to sell dollar on subsequent recovery as 112.05-10 should limit upside and bring another decline. Above 112.35-40 would defer and signal low is formed instead, risk a stronger rebound to 112.65-70.