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- Major resistance – 114
- Major support – 112.80
- The pair has made a slightly recovered till 113.47 at the time of writing after making a low of 112.80 yesterday. It is currently trading at 113.42.
- Short term trend is slightly bullish as long as support 112.80 (Tenken-Sen) holds.
- On the higher side any break above 114 will take the pair to next level 114.45 (Kijun-Sen)/115.20 (55 day EMA)/116.
- Any violation below 112.80 will drag the pair till 112/111.49 (18th Apr 2016 Low).
- Overall bullish invalidation only below 111.50.
It is good to buy at dips around 113.40 with SL around 112.80 for the TP of 115.20/116
