- Major support – 107.40 (trend line joining 105.61 and 107.08)
- The pair declined till 107.54 at the time of writing after making a high of 108.45. It is currently trading around 107.74.
- In the hourly chart the pair trades slightly above Tenkan-Sen (107.76) and Kijun-Sen (107.37). So a short term weakness only below 107.40.
- Any violation below 107.40 will drag the pair down till 107.05/106.76 (55 H EMA).
- On the higher side, resistance is at 108.13 (61.8% retracement of 108.45 and 107.54) and any indicative break above targets 108.45/109.10/110.
It is good to buy at dips around 107.65-107.70 with SL around 107.40 for the TP of 108.45/109.10
R1- 108.45
R2-109.10
R3-110
Support
S1-107.40
S2-107.05
S3-106.76
