The pair remains within narrow range in the middle of thick daily cloud (110.63/111.61) after bulls stalled on approach to cloud top, but downside attempts were so far limited.
Directionless mode extends into fourth day, with negative signals developing on daily chart (slow stochastic created bear-cross and is reversing from overbought territory, while bullish momentum is fading.
Confirmation of negative scenario requires break below 111 zone supports (20/55SMA’s) to open way towards lower pivot at 110.64 (daily cloud base, reinforced by Tenkan-sen).
Alternatively, sustained break above daily cloud would signal extension of recovery leg from 109.77 (21 Aug low).
Res: 111.35, 111.61, 111.87, 112.15
Sup: 111.12, 110.93, 110.64, 110.24
