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Technical Outlook

USDJPY – fresh bullish extension probes above 113.00

The pair extends recovery above 113.00 on Wednesday, following eventual break above three-day consolidation range top which signaled extension of recovery leg from 112.02 (15 Dec low).
Today’s fresh extension higher probed above 113.09 pivot (Fibo 61.8% of 113.74/112.02), with close above here to generate bullish signal for test of key barriers at 113.55 (daily cloud top) and 113.74 (12 Dec top).
Broken 55SMA holds today’s action and marks key near-term support at 112.85.

Res: 113.24; 113.55; 113.74; 114.00
Sup: 112.97; 112.85; 112.57; 112.43

 

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