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 (…
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.
