USD/JPY-81.77
Original strategy:
Sold to 81, 83, Target: 81.05, Stop: 82.10
New strategy:
Hold the card at 81, 83, Target: 81.05, Stop: 82.10
The dollar has traded in a narrow sense, and as long as the specified resistance 81.98-99, mild downside bias remains to retreat to 81.45/50, then test on the Kijun-sen (now 81.25), only break in the Ichimoku cloud (now at 81; 01-05) but would signal the upper has been set up and take another fall to strong support at 80 54.
Against this background, we agree that our short position is indicated on the 81 83 for such cases, but one must exit on the subsequent downturn. above resistance at 81.99 would signal the long-awaited patch of the recent downtrend has started and then profit from 82.50 and later 82.90/00 would follow.
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