Ichimoku analysis (hourly chart)
Tenken-Sen- 109.36
Kijun-Sen- 109.23
CHJPY has formed a minor bottom around 108.78 and shown a good jump of nearly 70 pips till 109.48. the jump was mainly in hopes of the US-China trade deal has increased demand for riskier assets like stocks. The pair hits an intraday high of 109.44 and is currently trading around 109.408.
Technically, near-term support is at 109 and any violation below will drag the pair down till 108.75/108.55/108.10.
On the higher side, major resistance for the day stands at 109.50 and indicative jump above that level targets 109.75/110. the pair should break above 110.40 for bullish continuation,
It is good to buy on dips around 109.15-20 with SL around 108.80 for the TP of 110.20.
