USD/JPY – 110.28
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 110.03
Kijun-Sen level : 110.04
Ichimoku cloud top : 110.40
Ichimoku cloud bottom : 109.47
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Although the greenback slipped in US morning on US NFP data, below 109.41-47 (previous resistance and 50% Fibonacci retracement of 108.27-110.67) is needed to signal top has indeed been formed at 110.67 yesterday, bring further fall to 109.15-20 (61.8% Fibonacci retracement) and possibly towards 108.95-00, however, reckon 108.55-60 would remain intact.
In view of this, would be prudent to stand aside for now. Above 110.50 would suggest the pullback from this week’s high of 110.67 has ended, bring retest of this level but only break there would signal the rise from 108.27 low has resumed and extend gain towards previous chart resistance at 110.95 later.
