The pair is consolidating above 112.60 (low of strong three-day fall from 114.94 (15 Feb high).
Near-term action remains biased lower following strong upside rejection at 114.94 that left daily candle with long upper shadow and subsequent strong acceleration lower.
Near-term action is holding below bearishly aligned daily Tenkan-sen / Kijun-sen lines (113.28 / 113.59) with the latter expected to cap extended upticks, ahead of fresh push lower.
We need to see clear break below cracked 112.86 support (Fibo 61.8% of 111.57/114.94 upleg) to confirm bearish stance.
Loss of 112.60 handle would open psychological 112.00 support and expose key support and near-term base at 111.60.
Conversely, break and close above daily Kijun-sen would sideline persisting downside risk, in favor of stronger correction of 114.94/112.60 downleg
Res: 113.28, 113.59, 113.77, 114.05
Sup: 112.60, 112.37, 112.00, 111.60
