USDJPY

The pair remains in red for the second day and broke below strong support at 112.86, provided by 100SMA, in extended bearish acceleration after political turmoil in the US negatively impacted the dollar.
Break below another support at 112.67 (broken Fibo 61.8% of 115.49/108.11 descend) and penetration into daily cloud (cloud top lies at 112.54), sees risk of further weakness.
Bears are looking for extension towards strong supports at 112.00 zone (rising 20SMA at 112.12 and Fibo 38.2% of 108.11/114.36 recovery rally at 111.97) which is expected to ideally contain correction of larger uptrend and keep overall bulls in play.
Slow stochastic on daily chart in steep descend and approaching oversold zone that supports scenario of pausing current bear-leg and fresh recovery attempts.
Former strong supports at 113.30/112.86 (10SMA / 100SMA) now act as pivotal barriers, break above which is needed to confirm reversal.
Otherwise, increased downside risk could be expected on firm break below 112.00 handle for extension of pullback from 114.36 towards 111.25 (30SMA/ daily Kijun-sen) and 110.50 (Fibo 61.8% of 108.11/114.36 rally).

Res: 112.67; 112.86; 113.25; 113.75
Sup: 112.12; 111.97; 111.56; 111.25