Technical Analysis

USDJPY – Bears Eye Key 111.60 Support Zone, Thickening Daily Cloud Maintains Pressure

Typography

Fresh extension of last week's fall from 115.18 (14 Mar high) cracked target at 112.57 (Fibo 76.4% of 111.67/115.49 rally), maintaining firm bearish tone.

The pair was down nearly 2% last week, on strong bearish acceleration that commenced after upside rejection above daily cloud.

Daily studies are turning into full bearish setup, with close above 112.57 to generate bearish signal for full retracement of 111.67/115.49 upleg.

Oversold slow stochastic signals consolidation before bears resume, with base of thickening daily cloud at 113.65 (reinforced by daily Kijun-sen), expected to cap upticks.

Res: 113.25, 113.48, 113.65, 113.91
Sup: 112.44, 112.00, 111.67, 111.57

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Windsor Brokers Ltd
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