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Ichimoku Analysis (Hourly chart)
Tenken-Sen- 108.38
Kijun-Sen- 108.44
USDJPY is trading weak after a minor jump to 108.93 and is currently trading around 108.45. The intraday trend is slightly weak as long as resistance 108.53 (200-H MA) holds. It hits a low of 108.25 and is currently trading around 108.43.
On the flip side, near term support is around 108 and any violation below will drag the pair till 107.70/107.37.
The near-term resistance is around 108.70-75 and any convincing break above targets 109.05/109.30.
It is good to sell on rallies around 108.55-60 with SL around 109 for the TP of 107.40.
