Price has hit the Monthly R1/Weekly R3/Kumo Cloud conflunce resistance and is showing signs of respecting this level, at a first test. The daily and Monthly Clouds approximately coincide which adds resistance at this level. On th Monthly chart price is yet to make a proper close inside the Kumo Cloud. A reversal candle on daily might be traded to the downside, but the Weekly trend is strongly bullish so one has to step cautionsly if shorting, perhaps removing risk asap. Personally I prefer the upside as price has made a buy signal Ichimoku on the H4 tf, and is looking strong there. A retest of the Cloud on H4 may be an opportunity to enter on the longside hoping for resumption of the bullish trend on daily timeframe (as in regard to the Ichimoku system). Overall the situation is somewhat double edged and the conservative bullish trader should just wait for a buying signal on the daily timeframe for a long entry or if you are a bear, look for a sell signal, perhaps using a candle stick or lower time frame signals. Else wait for things to become clearer. The US stocks are halting and question is of course if there will be a deeper correction or not, it will greatly affect this pair.