AUD/JPY Bulls Hold Firm: Buy the Dips Targeting 107 Amid Strong Uptrend

AUDJPY pared some of its gains due to profit-booking. Intraday trend is bullish as long as support 103.80 endures. Presently at 105.43, it touched an intraday high of 105.93.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 105.448

EMA (4-hour chart)

55-EMA- 104.75

200-EMA- 103.31

365-EMA- 101.98. The pair trades above the short and long-term moving averages.

Major Support- 105. Any breach below 104.35 will drag the pair down to 104.59/104.35/103.80/103.50/103/102.79/102.25/102.

Major resistance - 106. Any break above 106 confirms minor bullishness; a jump to 107/108/109 is possible.

Indicator (4-hour chart)

CCI (50)-  Bullish

Average directional movement Index-  Neutral. All indicators confirm a neutral trend. 

It is good to buy on dips around 104.80 with SL 103.80 for TP of 107.