Repeated strong rejection at 0.7867 (Fibo 61.8% of 0.7807/0.7962 upleg) on Friday and subsequent quick bounce suggests very strong support. In addition, two attempts below daily Tenkan-sen (0.7885) failed to close below, signaling that near-term pullback from 0.7962 (17 Aug high) might be running out of steam.
Near-term action is holding in triangular pattern (upper boundary at 0.7933, reinforced by daily Kijun-sen and lower at 0.7867) with break of either side needed to generate firmer direction signal.
Top at 0.7962 marks next pivotal barrier, violation of which would open way for fresh attempts through 0.8000. On the downside, loss of strong 0.7867 support would risk retest of key n/t support at 0.7807 (15 Aug correction low), reinforced by the top of rising daily cloud.
Res: 0.7920, 0.7933, 0.7950, 0.7962
Sup: 0.7885, 0.7867, 0.7832, 0.7807
