The pair extends recovery from 112.60 (low of three-day fall from 114.94) and cracked pivot at 113.59 (daily Kijun-sen) but without clear break for now.

Last week’s strong upside rejection and subsequent fall continue to weigh on near-term action, as daily studies remain bearishly aligned. Current rally is still seen as correction that may extend above Kijun-sen pivot, before bears take control again.

Renewed downside attempts need to clear 112.60 support to open way towards psychological 112.00 level and key near-term support at 111.60.

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Upper trigger lies at 114.05 (Fibo 61.8% of 114.94/112.60) and only sustained break here would neutralize bears for renewed attempts towards 115.00 zone.

Res: 113.59, 113.77, 114.05, 114.39
Sup: 113.33, 113.00, 112.60, 112.37


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