Ichimoku analysis (4-hour chart)
Tenken-Sen- $18.14
Kijun-Sen- $18.49
Major resistance- $35
Horizontal trend line- $21
Downtrend channel resistance- $24
INJUSD shown a minor pullback after a massive sell-off. It has surged more than 40%. It hit a high of $19.42 and currently trading around $18.57. The pair is holding above the short-term (21 and 55-day EMA) and long-term moving average (200-day EMA).
The near-term resistance is around $21, any indicative breach above will take the pair to $25/$30.On the lower side, immediate support is $14, and any violation below targets $10/$7.80.
Indicators ( 4 hour chart)
Directional movement index - Neutral
It is good to buy on dips around $15 with SL around $10 for TP of $30.
