The AUD/JPY showed a minor pullback on weak Yen. It hit an intraday high of 95.46 and is currently trading around 95.374. Intraday trend is neutral as long as the resistance at 95.50 holds.
‘The pair is trading above 55 and below 200 EMA and 365 EMA (long-term) on the 1-hour chart, confirming a bearish trend. Any violation below 95 indicates the intraday trend is weak. A dip to 94.40/93.95/93 is possible. Immediate resistance is at 95.50. A breach above this level targets 95.80/96.20/96.50/96.85/97.20/97.64/98.
Market Indicators ( 1-hour chart)
CCI (50)- Bullish
Directional movement index - Bullish
Trading Strategy: buy
It is good to buy above 95.50 with SL around 95 for a TP of 96.50/97.20.
