USDJPY consolidates after brief probe below 110.00 support; further downside is favored

EURUSD

Pullback from fresh high at 1.1436 remains contained above pivotal 1.1330/00 support zone (Fibo 38.2% of 1.1151/1.1436 upleg / rising 10SMA / sideways-moving daily Tenkan-sen line), with long-tailed candles of past two days, showing existing buying interest.
Supports at 1.1330/00 zone are seen as ideal reversal point of corrective pullback from 1.1436, to keep overall bulls intact.
However, near-term studies remain negatively aligned, with reversed daily Slow Stochastic, heading south and signaling more room for correction.
Violation of 1.1330/00 zone, would extend pullback towards next significant support at 1.1260 (Fibo 61.8% of 1.1151/1.1436), loss of which is needed to bring near-term bears fully in play.

Res: 1.1385; 1.1411; 1.1436; 1.1465
Sup: 1.1327; 1.1306; 1.1293; 1.1260






GBPUSD

Yesterday’s bearish acceleration returned and closed below daily Ichimoku cloud base at 1.4180, leaving long red daily candle and maintaining downside pressure.
The pair remains at the back foot, having cracked round-figure support at 1.4100, ahead of key 1.4050 support (daily higher base / floor of short-term range).
Firm bearish setup of daily SMA’s and south-heading daily indicators, maintain negative structure, as thick daily Ichimoku cloud limited recovery attempts.
Daily cloud’s base offers initial resistance at 1.4180, followed by daily Kijun-sen line at 1.4212 and 1.4243 (Fibo 38.2% of 1.4457/1.4110 downleg). Selling upticks remains favored, with 1.4180 zone (yesterday’s high / daily Tenkan-sen line), marking key resistance.

Res: 1.4180; 1.4212; 1.4243; 1.4280
Sup: 1.4050; 1.4000; 1.3912; 1.3834





USDJPY

The pair consolidates yesterday’s strong fall that eventually cracked psychological 110.00 support and closed below former low and pivotal support at 110.65.
Consolidation is so far shaped in Doji candle with long upper shadow, signaling persisting selling interest, as upside remains capped under initial 110.65 barrier, guarding another significant resistance at 111.00 (former s/t consolidation floor), which is expected to cap extended rallies.
Bears continue to dominate on all timeframes and favor fresh downside attempts, after critical 111.00/110.65 supports were taken out. Renewed attempts below 110.00 handle are expected to accelerate on stop-triggering action and could travel to 106.70 (Fibo 76.4% of larger 100.81/125.84 rally) in the short-term.

Res: 110.65; 111.00; 111.33; 111.85
Sup: 110.22; 109.93; 109.45; 109.00







AUDUSD

Aussie remains at the back foot, following past two days strong bearish close that showed bearish acceleration close to 0.7500 handle and keeping in n/t focus more significant 0.7475 support (24 Mar trough).
Current pullback is seen as corrective action of larger rally from 0.6826 that peaked at 0.7721 so far and is expected to be ideally contained above 0.7475 support, which is reinforced by rising daily 30SMA.
The notion is supported by falling daily Slow Stochastic, which approaches oversold zone and expected dovish tone from FOMC.
Broken daily 20SMA offers initial resistance at 0.7569, followed by 10SMA at 0.7589, also Fibo 38.2% of 0.7721/0.7508.
Pivotal barrier lies at 0.7640 (Fibo 61.8% of corrective pullback from 0.7721).

Res: 0.7569; 0.7589; 0.7600; 0.7640
Sup: 0.7530; 0.7508; 0.7475; 0.7412