Intraday trend is bearish as long as resistance 88 holds. The pair lost its shine on the strong yen. It hits a low of 86.99 at the time of writing and is currently trading around 87.17. Overall bearish trend is intact as long as resistance 91.80-92 holds.
Technicals-
The pair trades below 34- and 55 EMA in the 1-hour chart.
The near-term resistance is around 88, a breach above targets 88.60/89/89.60/90. The immediate support is at 87, any violation below will drag the pair to 86.30/85.10/84.06.
Indicator ( 1 hour chart)
CCI (14)- Bearish
CCI (50)- Bearish
Average directional movement Index- Neutral. All indicators confirm a bearish trend.
It is good to buy on dips around 87.48-50 with SL around 87 for TP of 88.59/89.
