The pair stands at the front foot on Monday and probed above last week’s double-top at 114.08, but so far without clear break.
Near-term action is holding above broken Fibo barrier at 113.80 (76.4% of 114.54/111.37) which also contained Friday’s trading and keeping bullish bias intact.
Lat Thursday’s long green daily candle continues to underpin, with strong bullish momentum and daily MA’s in bullish setup, keeping focus at key 114.54 barrier (03/04 Oct highs).
Bulls may hold in extended consolidation before final push higher, as slow stochastic is moving sideways in overbought zone, with extended corrective dips to offer fresh buying opportunities and to be contained above rising 10SMA (113.37).
Widening interest rate divergence between the US and Japan, supports scenario.
Res: 114.20, 114.54, 114.73, 115.50
Sup: 113.80, 113.63, 113.37, 112.94
