Ichimoku analysis (Hourly chart)
Tenken-Sen- 108.33
Kijun-Sen- 108.249
USDJPY trades slightly lower after a good jump of more than 150 pips a previous week. The pair hits high of 108.62 and is currently trading around 108.15.
The jump was mainly due to the first round of US-China trade deal and rising US bond yield. The yield recovered more than 17% and is currently trading at around 1.732%.
On the flip side, near term support stands around 107.70 and any violation below will drag the pair down till 107.37/106.80.
The major resistance is around 108.65 and any convincing break above targets 109.30/110.
It is good to buy on dips around 108 with SL around 107.70 for the TP of 109.30.
