USD/JPY Technical Analysis: Finds a temporary support near 200-hour EMA, remains vulnerable

   •  The pair extended its intraday sharp retracement slide from fresh one-month tops and momentarily slipped back below the 113.00 handle in the last hour.

   •  Weakness break below 50/100-hour SMA was seen as a key trigger for bearish traders, though the downfall seems to have found some support near 200-hour EMA.

   •  Technical indicators on the 1-hourly chart have been gaining negative momentum and point to an extension of the intraday steep decline led by the US midterm election results.

   •  A decisive break through the mentioned support and a subsequent fall below 38.2% Fibonacci level of the 111.38-113.82 recent upsurge, will add credence to the bearish outlook.

USD/JPY 1-hourly chart