Rejection under strong 115.55 barrier (daily cloud top / Kijun-sen line) and yesterday’s fall, turned near-term focus lower.
Recovery from today’s low at 113.23 stays for now caped by daily Tenkan-sen at 114.05, with Tenkan-sen / Kijun-sen lines being in bearish setup, together with negative daily studies, maintaining downside pressure.
Extended upticks are expected to hold below 114.67, where daily 20/55SMA’s bear-cross is forming, ahead of fresh downside attempts that could extend towards key near-term support, 112.50 base and floor of near-term congestion.
Res: 114.05, 114.67, 115.36, 115.55
Sup: 113.44, 113.23, 112.50, 111.97
