USDJPY - eyes 115.00 barrier to complete n/t consolidation phase; daily Kijun-sen is underpinning action
|Near-term focus is shifting higher after daily Tenkan-sen contained pullback and subsequent rally establishes above 114.00 handle, neutralizing downside risk.
Daily Tenkan-sen turned north again, indicating fresh momentum for renewed attempt towards upper triggers at 114.81/115.00.
Larger bulls remain intact, as fresh strength signals an end of n/t consolidation phase and resumption of steep upleg that commenced after US elections.
Violation of 115.00 barrier would look for another upper trigger, weekly cloud top at 115.40.
Initial support lies at 114.54, followed by 114.00 and daily Tenkan-sen at 113.20,
Res: 114.81; 115.00; 115.40; 116.00
Sup: 114.54; 114.00; 113.63; 113.20
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