INJUSD Daily Outlook

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.

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