The dollar remains well support against yen on Friday and extends rally of the previous day, sparked by upbeat US data. Recovery extension on Friday hit one week high at 111.70 and pressures key near-term barrier at 111.80, provided by top of daily Ichimoku cloud. Near-term studies are back to bullish mode and turn bias higher, as Friday’s price action is underpinned by formation of 10/55SMA’s bull-cross. Firm break above daily cloud would trigger fresh acceleration higher for test of resistances that lay between 111.95 and 112.28, consisting of 30/20 and 100SMA’s. The pair may pause under 111.80 pivot, awaiting release of US NFP data for fresh signals. Broken 10 and 55 SMA’s offer immediate supports at 111.33/24, with extended dips not to exceed 111.00 handle to keep near-term bullish bias in play.
Res: 111.70, 111.80, 112.12, 112.28
Sup: 111.24, 111.00, 110.62, 110.50
