The pair is in recovery mode on Thursday after previous day’s fall to nearly one-month low at 112.47 and close below Fibo 23.6% support at 112.98 which was bearish signal.
Bounce above 113.00 was so far limited by 30SMA (113.23) and holding under descending hourly cloud, signaling recovery action could be limited.
Bear-cross of 10/20SMA’s which was formed yesterday, weighs on near-term action and sees risk of fresh downside on recovery stall.
Bearish scenario would look for initial target at 112.27 (55SMA) and could extend towards 111.90/73 (Fibo 38.2% of 107.31/114.73 ascend / converged 100/200SMA’s.
Conversely, lift above 30SMA and Fibo 38.2% of 114.73/112.47 pullback (113.34) would provide relief for extended recovery towards pivotal 113.60 zone barriers (10/20SMA’s / daily Tenkan-sen).
Sustained break here is needed to signal higher low and turn near-term focus higher.

Res: 113.34; 113.60; 113.91; 114.20
Sup: 112.73; 112.47; 112.27; 111.90