Recovery attempts from last Thursday’s spike low at 110.22 remain capped by descending 55SMA (currently at 111.68) as overall structure remains weak and keep near-term focus at 110.00/109.80 targets (psychological support/rising 200SMA).
Long red candle that was left on Wednesday continues to weigh, together with daily cloud top at 111.80.
Another strong barrier lies at 112.29 (daily Tenkan-sen) where extended corrective upticks should be limited before bears resume.
Res: 111.68, 111.80, 112.29, 112.78
Sup: 111.13, 110.96, 110.50, 110.22
