Ichimoku Analysis (4-hour chart)
Tenken-Sen- 107.29
Kijun-Sen- 108.14
USDJPY declined slightly after a minor jump to 107.73. The total number of people infected crossed more than 25 in India and global infection crossed 94000. The pair hits an intraday low of 107.19 and is currently trading around 106.91.
On the flip side, immediate support is around 106.80 and any violation beneath will drag the pair down till 106.40/106.
The near term important resistance is around 107.85, an indicative break up targets 108.25/108.60. Minor trend reversal only beyond 108.60.
It is good to sell on rallies around 107.35-40 with SL around 107.70 for the TP of 106.
