The pair fell to fresh one week low at 109.19 in Asia, on strong bearish acceleration after recovery attempts stalled at 109.83.
Monday’s gap remains unfilled and weighs on near-term action, with strong safe-haven demand over renewed geopolitical tensions, keeping yen supported.
Overnight’s weakness was contained by solid support at 109.19 (Fibo 61.8% of 108.26/110.66 upleg), with sustained break here needed to spark further downside and signal an end of corrective phase from 108.26.
Bearishly aligned daily studies are supportive, however, limited upside attempts cannot be ruled out, as last Tuesday’s long-tailed bullish candle that was formed after strong downside rejection, is still underpinning, along with daily cloud which twists tomorrow.
Only firm break above 110.00 pivot and filling Monday’s gap would sideline persisting downside threats for stronger recovery.
Res: 109.83, 110.00, 110.30, 110.44
Sup: 109.19, 108.83, 108.60, 108.26
