The major tracked US-Japan 10-year yield spread lower and brushed aside hawkish Yellen's comments.
Technical indicators on have turned , and Stochs have rolled over from overbought levels and is on verge of crossover.
Immediate support is seen at 20-DMA at 112.50. Violation there could see downside upto 112.15 (38.2% Fib).
Focus remains on US monthly PPI and weekly jobless claims release along with day 2 of Yellen testimony.
Support levels - 112.50 (20-DMA), 112.15 (38.2% Fib retrace of 118.662 to 108.130 fall)
Resistance levels - 113.61 (5-DMA), 114, 114.63 (61.8% Fib)
Good to go short on rallies around 113/113.15, SL: 113.65, TP: 112.50/ 112.15
Bias lower, 200-DMA at 111.70 in sight.