The pair extends bounce from strong supports at 112.50 zone, where near-term base is forming.
Fresh bullish acceleration cracked first upper pivot at 115.13 (daily cloud top) and eyes next trigger at 115.55 (daily Kijun-sen line).
Immediate downside risk has been sidelined and near-term focus is turning higher.
Sustained break above the top of thickening daily cloud and Kijun-sen line (that also marks 50% of 118.59/112.50 pullback) is needed to confirm reversal and higher base at 112.50, for further retracement of 118.59/112.50 correction.
Failure to emerge above the cloud would signal recovery stall, however, risk is expected to remain shifted up while daily Tenkan-sen (114.05) holds.
Res: 115.13, 115.55, 116.30, 116.85
Sup: 113.37, 114.05, 113.60, 113.03
