TA still on track. Done relaxing?

After TA hit the Kijun Sen line few days ago, it retrace and move down together with the Kijun Sen. As we can see in our chart Kijun Sen now act as support instead of being one of the resistances. Notice also that we have a weak bullish signal coming from Tenkan Sen / Kijun Sen Cross with Chikou Span agreeing on its bullishness. Still overall mood is bearish bias since we are trading below the Kumo. Nonetheless there is a chance that TA will continue to rise and will try to break the initial resistance at 1.61 or 23.6% Fibonacci Retracement level. This level has been tested few days ago but TA was not able to break it. Will the bulls try again tomorrow?

By the way, the Kijun Sen line (weekly chart) moving horizontally at 2.09 is still there.


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