• Major support - 1.23795 (daily Kijun-Sen)
   
• Cable has taken support near daily Kijun-Sen and jumped sharply from that level. It is currently trading around 1.24505.                                            
• Short term trend is slightly bearish as long as resistance 1.2530 holds.


• The pair should break below Kijun-Sen for further decline till 1.23500/1.2300 is possible .
   
• On the higher side, any break above 1.2530 will take the cable to next level till 1.2600/1.2675.
  
  It is good to sell on rallies around 1.2460-1.2465 with SL around 1.2530 for the TP of 1.2350/1.2300