AUD/JPY Holds Firm Above 100 as Yen Weakens Further

AUDJPY holds above 100 s yen weakned sharply. Having reached an intraday high of 100.20, it now trades at about 99.98. As long as support at 98 holds, the intraday trend is upward.

Oscillators and moving averages to forecast the trend of NDJPY

CMP- 99.987

EMA (4-hour chart)

55-EMA- 98.32

200-EMA- 97.45

365-EMA-  96.79. The pair trades above the short and long-term moving averages.

Major Support-  99.40. Any breach below 99.40 will drag the pair down to 99/98.60/98/97.60/97/96.51/96/95.

Major resistance - 100.20.  Any break above 100 confirms minor bullishness; a jump to 100.80/102/103 is possible.

Indicator (4-hour chart)

CCI (50)-  Bullish

Average directional movement Index-  Bullish. All indicators confirm a bullish trend.

It is good to buy on dips around 99.48-50 with SL around 98.90 for TP of 102.