The pair remains in green for the third straight day and extends recovery after last week’s flash crash, but face headwinds at strong 109.15/20 barriers (50% of 113.70/104.59 / daily Kijun-sen).
Risk of recovery stall exists as daily MA’s are in bearish setup and 20/200SMA death-cross is forming, while indicators hold in negative territory.
Bearish scenario requires confirmation on return and close below daily Tenkan-sen (108.00) that would signal lower top and open way for further weakness.
Conversely, sustained break above daily Kijun-sen (109.20) and falling 10SMA (109.50) would generate bullish signal for extension of recovery leg from 104.59 spike low towards psychological 110.00 barrier (reinforced by converged 20/200SMA’s).
Res: 109.20, 109.50, 110.00, 110.22
Sup: 108.51, 108.00, 107.51, 107.00
