Steep four-day fall from 114.54 double top found footstep at 112.95 Fibo support (38.2% of 110.38/114.54, reinforced by rising 20SMA), with consolidation under way in early Wednesday’s trading.
Pullback should be ideally contained here to keep overall bulls in play.
Oversold slow stochastic on daily chart supports scenario, but weakening momentum keeps the downside vulnerable.
Violation of 112.95 handle would risk extension towards 112.46 pivot (Fibo 50%/daily Kijun-sen) loss of which will be bearish.
Break and close above 10SMA (113.59) is needed to neutralize and shift near-term focus higher.
Res: 113.39, 113.59, 113.94, 114.10
Sup: 112.95, 112.46, 112.38, 111.97
