USDJPY – corrective dips to precede fresh upside
The pair is in red in early Tuesday’s trading after Monday’s action ended in Doji candle, unable to sustain gains above daily cloud.
Additional negative signal comes from slow stochastic which turns south in deep overbought territory, suggesting corrective action before broader bulls resume.
Fresh easing probes below daily cloud top (113.51) and dips are expected to find support at 113.10 zone (Friday’s low / base of thick hourly cloud).
Dip-buying scenario remains favored for attack at next target at 113.81 (Fibo 76.4% of 114.73/110.83 descend) and probes above 114.00 barrier in extension.
Res: 113.68; 113.81; 114.45; 114.73
Sup: 113.25; 113.10; 112.75; 112.35