Tenkan-Sen level : 1.3096
Kijun-Sen level : 1.3115
Ichimoku cloud top : 1.3144
Ichimoku cloud bottom : 1.3086
Original strategy :
Bought at 1.3130, stopped at 1.3095
Position: - Long at 1.3130
Target: -
Stop:- 1.3095
Despite yesterday's rise to 1.3179, the subsequent retreat has retained our view that further consolidation below last week's high of 1.3208 is in store and weakness to 1.3050 cannot be ruled out, however, downside is likely to be limited to 1.3020-30 and reckon support at 1.2992 should continue to hold and further choppy trading within recent range of 1.2992-1.3208 would take place, bring another rebound later.
On the upside, above the upper Kumo (now at 1.3144) would bring another test of said resistance at 1.3179 but break there is needed to revive bullishness and signal upmove from 1.2755 low has resumed for a retest of said last week's high of 1.3208, above there would extend the rise from 1.2755 for a stronger correction of early decline from 1.3417 to 1.3230-35 but previous resistance at 1.3255 should hold on first testing. As near term outlook is mixed, would be prudent to stand aside in the meantime.
IMOH, Clement I.
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