Price is trading in the red on the short term and is expected to drop much below the 110.00 psychological level if will have enough direction energy to take out the support from 110.61 previous low.
Should extend the sell-off after the failure to reach and retest the 38.2% retracement level and the broken downtrend line. Is moving sideways on the Daily chart, so is somehow expected to approach the 50% retracement level again, where he could find support again. The Yen dominates the currency market on the short term as the Nikkei failed to stay above the 20058 static resistance.
