- Major resistance- 135.25 (hourly Tenkan-Sen)
- Major support – 134.60 (trend line joining 138.91 and 135.96)
- The pair has broken trend line support 134.60 and declined till 134.40 at the time of writing. It is currently trading around 134.61.
- Japanese Yen stays strong against all major pair’s as risk aversion deepens .
- Technically intraday trend is weak as long as resistance 135.25 holds . Any break above 135.25 will take the pair to next level at 135.56/136.25/137.Short term trend reversal only above 140 level.
- On the lower side, any break below 134.60 will drag the pair down till 134/133.
It is good to sell on rallies around 134.75-134.80 with SL around 135.25 for the TP of 134/133.
