AUD/JPY Holds Steady with Bullish Undertones: Buy the Dips Targeting 107

AUDJPY trades flat with positive bias.Intraday trend is favorable as long as support 103.80 endures. Presently at 104.58, it touched an low of 104.38 yesterday.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 104.67

EMA (4-hour chart)

55-EMA- 104.28

200-EMA- 102.84

365-EMA- 101.56. The pair trades above the short-term and above long term moving average.

Major Support- 104.35. Any breach below 104.35 will drag the pair down to 103.80/103.50/103/102.79/102.25/102/101.40/100.98/100.35/100/99.70.

Major resistance - 105.20. Any break above 105.20 confirms minor bullishness, a jump to 105.70/106/107 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 104.48-50 with SL 103.80 for TP of 107.