The pair holds in a steady descend from Asian high at 107.24 and dipped to 106.68 (American session low) on probe through 10SMA (currently at 106.70).
Negative bias is gaining traction as techs point lower following multiple rejections under the base of thick daily cloud and fundamentals turn focus from fading concerns about trade war towards increasing fears over the situation in Syria.
Comments of US President Trump about potential missile attack increased demand for safe haven yen, keeping near-term risk shifted lower.
Stronger bearish signal could be expected on close below 10SMA, while return below converged 20/30 SMA’s is needed to confirm reversal.
Res: 107.18; 107.50; 107.97; 108.50
Sup: 106.60; 106.40; 106.27; 106.00
