USD/JPY - 91.26

Most recent candlesticks pattern : N/A Trend : Sideways

Tenkan-Sen level : 91.48 Kijun-Sen level : 91.55 Ichimoku cloud top : 92.26 Ichimoku cloud bottom : 92.11

New Strategy :

Sell at 91.70, Target: 90.70, Stop: 92.20

Although the greenback rebounded after yesterday's marginal fall to 90.95 (previous low was 91.05), as renewed selling interest emerged at 91.88 and has retreated, suggesting the decline from 93.65 may extend weakness towards 90.64 (1.236 times projection of 93.65-91.76 measuring from 92.97) but reckon 90.00 would remain intact.

In view of this, we are looking to sell dollar on recovery. Only above 92.24-26 (previous resistance and current level of the Ichimoku cloud top) would signal low has been formed and bring rebound to 92.62 (61.8% Fibonacci retracement of 93.65 to 90.95).