USDJPY – limited recovery while below daily Tenkan-sen
|The pair is holding in extended consolidation above key supports at 111.90/71 (daily cloud top / Fibo 38.2% of 107.31/114.73 / converged 100/200SMA’s), but upside attempts were so far limited.
Daily techs are bearishly aligned and expected to keep near-term focus at the downside while the price remains below 112.97 pivot (daily Tenkan-sen / Fibo 38.2% of 114.73/111.88 downleg).
Renewed attempts through 111.90/71 zone could trigger significant bearish acceleration on sustained break and expose supports at 111.02 and 110.15 (Fibo 50% and 61.8% retracement of 107.31/114.73 ascend).
Conversely, sustained break above 113.00 zone would ease existing downside pressure and signal further recovery of 114.73/111.88 pullback.
Res: 112.71; 112.97; 113.30; 113.64
Sup: 112.70; 111.90; 111.71; 111.46
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