Technical Outlook USDJPY 10.10.2017

Technical Outlook USDJPY 10.10.2017

USDJPY – break below Tenkan-sen is bearish signal for test of key 200SMA support

Near-term action is gaining further negative tone on fresh bearish acceleration on Tuesday. The pair broke below daily Tenkan-sen / 10SMA which now act as resistances and generated bearish signal.
Floor of near-term congestion at 112.32 is under increased pressure and sustained break here would generate new bearish signal for test of next pivots at 112.09 (20SMA) and 111.90 (200SMA). Close below here is needed to generate firmer reversal signal and open way for further retracement of 107.31/113.43 (08 Sep / 06 Oct rally).
Conversely, lift and close above Tenkan-sen (112.82) would sideline downside threats and shift focus higher for renewed attempts at 113.25/43 pivots).

Res: 112.65; 112.82; 113.25; 113.43
Sup: 112.32; 112.09; 111.90; 111.47