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- The pair has broken major support of 116.43 made on Jul 14th 2017. The pair declined till 115.90 at the time of writing and is currently trading around 115.91.
- Technically the pair is facing major support around 115.56 (50% retracement of 112.50 and 118.60) and any break below will drag the pair till 114.66 (89- day EMA)/113.65 (100 day MA).
- On the higher side, 116.28 (daily Kijun-Sen) will be acting as minor resistance and any break above will take the pair till 116.94 (21- day EMA)/117.57. Any break above 118.60 confirms minor trend reversal.
It is good to sell on rallies around 116.25-116.30 with SL around 117 for the TP of 115.56/114.70.
