Trades in AUDJPY soar higher for a third straight day on a strong Australian dollar. Intraday is positive as long as support at 102.95 holds. With a top of 104.25, it is now trading at about 104.175.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 104.17
EMA (1-hour chart)
55-EMA- 102.71
200-EMA- 101.13
365-EMA- 100.135. The pair trades above the short and above long-term moving average.
Major Support- 103.80. Any breach below 103.80 will drag the pair down to 103.40/102.95/102/101.40/100.98/100.35/100/99.70.
Major resistance - 104.30. Any break above 104.30 confirms minor bullishness; a jump to 104.55/105/106 is possible.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index- Bullish. All indicators confirm a Bullish trend. trend.
It is good to buy on dips around 103.40-42 with SL around 102.80 for TP of 105.
