The pair is holding bullish stance as Thursday’s pullback was contained by rising daily Tenkan-sen (112.20) and action remains also underpinned by 10/200 Golden cross (112.00). Bulls look for close above dented 112.80 target to confirm bullish continuation through Thu/Wed peaks at 113.20/25) towards targets at 113.57/114.00 and possible extension towards key barrier at 114.49 (11 July high. Downside should be ideally protected by rising Tenkan-sen , but extended dips towards daily cloud top (111.54) cannot be ruled out. Daily cloud continues to underpin the action after the price surged through the cloud and downside attempts being repeatedly contained by cloud top. The pair is also on track for the third straight bullish weekly close and above weekly cloud that supports broader bullish structure.
Res: 112.80, 113.25, 113.57, 113.68
Sup: 112.00, 112.00, 111.54, 111.36
