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USDJPY – Overall Bias Remains With Bulls But Mixed Technicals Show No Clear N/T Direction

The pair extended pullback after Friday’s rejection under daily cloud top at 114.80 and dipped to 113.56 (Fibo 38.2% of 111.67/114.73 upleg) so far.

Studies are mixed and show no clear direction in the near term. Initial support at 113.56 and next strong supports at 113.27 (converged 10/20/30 SMA’s in bullish setup) should contain dips and keep hopes of fresh attempts higher in play, with daily cloud twist on Wednesday, supporting the notion.

Conversely, loss of 113.56/27 supports would risk further easing towards 113.00 and 112.84 (Fibo 61.8% of 111.67/114.73), break of which would confirm reversal

Res: 114.11, 114.51, 114.73, 114.94
Sup: 113.56, 113.27, 113.00, 112.84

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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