The pair is consolidating above pivotal support at 112.32 (Fibo 38.2% of 108.80/114.49 upleg) which was cracked on Friday’s strong fall.
Repeated close (Thu/Fri) below daily Tenkan-sen confirms negative near-term stance.
Upside attempts were so far capped by initial barrier at 112.78 (Fibo 23.6% of 114.49/112.25 pullback) with thick 4-hr cloud weighing on near-term action (cloud base lies at 113.11, also Fibo 38.2%).
Close below 112.32 to signal fresh downside and expose a cluster of daily MA supports between 111.94 and 111.80, followed by daily Kijun-sen at 111.64 and thickening daily cloud (spanned between 111.23 and 111.07.
Alternative scenario requires sustained break above daily Tenkan-sen (113.37) to sideline immediate downside threats.
Res: 112.78; 113.15; 113.37; 113.57
Sup: 112.32; 111.94; 111.80; 111.64
Interested in USDJPY technicals? Check out the key levels
- R3 112.80
- R2 112.71
- R1 112.57
- PP 112.48
- S1 112.34
- S2 112.26
- S3 112.12
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