The break below 113.40 last night has this pair looking very susceptible to further sharp losses. That said, Asia will usually consolidate or retrace the overnight moves so we may see a mild rally in early trade.
The breakdown level at 113.40 is the first level to watch on the topside. Support levels are scarce until a previous pivot around 111.00. Most charts have a bearish bias but picking the right entry level is important as always.
