- Major resistance – 77.80 (200- HMA).
- Major support- 76.
- The pair has jumped sharply till 77.88 in the morning after BOJ monetary policy and pared its gain from the high.
- BOJ has kept its interest rates unchanged at minus 0.1 pct and introduced new QQE with yield curve control.
- In the hourly chart, the pair is struggling to close above 200- HMA and any further bullishness can be seen only above that level.
- Any close above 77.80 will take the pair till 78.88 (61.8% retracement of 80.31 and 76.59)/80.47 (100- day MA).
- On the lower side, any break below 76.10 will drag the pair further down till 75/74.55.
It is good to sell on rallies around 77.50-55 with SL around 79 for the TP of 76.10/75
