Ichimoku Analysis (Daily chart)
Tenken-Sen- 108.58
Kijun-Sen- 107.88
USDJPY recovered sharply after more than 150 pips decline from a temporary top 109.28. The easing of the US-Sino trade war and deal is expected to get signed by this month. The overall trend is neutral and major bullishness can be seen only above that level. It is currently trading around 108.49.
On the flip side, near term support is around 107.80 and minor weakness can be seen only below that level. Any violation targets 107.37/106.80.
The near term resistance is around 109.30 and any break above will take the pair till 110/110.60.
It is good to buy on dips around 108.15-20 with SL around 107.80 for the TP of 109.30.
