The pair has broken out of the recent smaller corrective structure to the upside and we are now headed to a large supply zone which means it's highly like that the price will be rejected around 112-114 area resulting in a reversal whcih should see price dropping to the 110 area once again presenting us a better RR and case for shorts, short entries can happen anytime so if watching look for reversal signs to enter early. Overall the pair is in a large weekly correction and there is no JPY fundamentals supporting a break to the upside out of this structure which makes me to take the upside is limited.
