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Ichimoku Analysis (4-hour chart)
Tenken-Sen- 109.88
Kijun-Sen- 109.83
USDJPY is trading in a narrow range between 110.13 and 109.65 for the past 5 days. The increase in Safe-haven demand is putting pressure on this pair at higher levels. The total number of people died has increased to 2000 and the number of infected cases crossed 75000.
On the flip side, near term support is around 109.50 and any violation below will drag the pair down till 109/108.30.
The significant resistance is around 110.15, an indicative break above targets 111/112.
It is good to buy above 110.15 with SL around 109.65 for the TP of 112.
