The AUD/JPY holds above 96 on strong Australian dollar. It reached an high of 96.42 and is currently trading around 96.215. The intraday trend remains bullish as long as support at 95 holds.
The pair is trading above 55 and 200 EMA and below 365 EMA (long-term) on the 15-min chart, confirming a bullish trend. Any violation below 96 indicates the intraday trend is weak. A dip to 95.50/95/94.40/93.95/93 is possible. Immediate resistance is at 96.20, a breach above this level targets 96.50/96.85/97.20/97.64/98.
Market Indicators ( 15-min chart)
CCI (50)- Bullish
Directional movement index - neutral
Trading Strategy: Buy
It is good to buy on dips around 96.03-05 with SL around 95.48 for a TP of 97.20/98.
