The major hit lowest level for the month at 113.03 before paring some losses.
Upbeat Japanese GDP number released earlier today failed to impress yen bulls.
Focus now on US retail sales and numbers which could influence the Fed rate hike odds and in turn the USD.
Technical studies have turned , and Stochs sharply lower. The pair has broken below 20-DMA.
divergence of and Stochs from price action keeps scope for downside. 50-DMA at 112.48 in sight.
Retarce above 20-DMA currently at 113.63 invalidates bias.
Support levels - 112.98 (23.6% Fib retrace of 107.318 to 114.73 rally), 112.48 (50-DMA), 111.90 (38.2% Fib)
Resistance levels - 113.45 (5-DMA), 113.63 (20-DMA), 114, 114.50 ( )
Update: Previous short call progressing well. TP1 hit. Bias lower.