Bulls are retaking control and probe again above 113.00 as dollar is regaining momentum.
Double downside rejection at 112.30 zone, where rising 10SMA contained dips, left two long-tailed daily candles, signaling that the downside is protected for now.
Broader bulls are looking for continuation signal which requires sustained break above 113.25 pivots (recent tops posted after multiple upside rejection) to open way towards targets at 114.00 (round-figure) and 114.49 (11 July peak).
Firm bullish setup of daily techs is supportive, but the pair is likely to stay within near-term congestion until release of US jobs data which are expected to generate stronger signal.
Rising 10SMA (currently at 112.58) marks initial support, followed by daily Tenkan-sen at 112.37, loss of which would weaken near-term structure.
Res: 113.25, 113.57, 114.00, 114.49
Sup: 112.75, 112.58, 112.37, 111.92
