USDJPY – bears eye targets at 112.30/111.95; limited correction to precede

The pair stands deeply in daily cloud on Thursday and consolidating after previous day’s strong fall (the biggest one-day loss since 22 Nov).
Bears found footstep at 112.46 where daily Kijun-sen contained Wednesday’s post-Fed acceleration, with limited upside action seen ahead of fresh attempts lower as Wednesday’s long bearish candle continues to weigh.
Recovery was so far capped by broken converged 10/55SMA’s which previously acted as strong support, with extended upticks expected to stall at 113.00 zone.
Fresh bearish acceleration through 112.46 handle would look for next targets at 112.30 (50% retracement of 110.83/113.74 / weekly cloud top) and 111.95 (Fibo 61.8% of 110.83/113.74) break of which would further inflate bears and signal an end of recovery phase from 110.83.
At the upside, daily cloud top marks key barrier (113.51) and only break here would neutralize downside threats and turn focus higher again.

Res: 112.88; 113.00; 113.51; 113.74
Sup: 112.46; 112.30; 111.95; 111.52