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Double Bottom Magic: AUD/JPY Eyes 110.78 Breakout After Perfect Pullback

 

 

 

Having formed a double bottom close 107.70, AUDJPY showed a decent pullback as profit booking caused a small decline of yen. At 108.65, it reaches an intraday peak; it is now trading at about 108.65.

 

 

Technicals

CMP -108.65

Trend

1- Hour chart

Value

 

 

55 EMA

108.51

CMP > value

Bullish

200- EMA

108.85

CMP < value

Bearish

365- EMA

108.49

CMP > value

Bullish

 

Major support- 108/106.85/106.

Major resistance-  109.25/109.60/110/110.78/11.64/112.

 

Momentum indicator

Inference

Value

CCI(50)

Above zero line (bullish)

24.55

ADX

Neutral

 

 

It is good to buy above 108.85 with SL around 108 for a TP of 110.78/111.60.

 

 

 

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