After a big gap up yesterday, AUD/JPY remains over the 99 level. Having reached an intraday high of 99.68, it now trades at about 99.45. As long as support at 98 holds, the intraday trend is upward.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 99.457
EMA (4-hour chart)
55-EMA- 97.91
200-EMA- 96.67
365-EMA- 97.28. The pair trades above short and long-term moving averages.
Major Support- 99. Any breach below 99 will drag the pair down to 98.60/98/97.60/97/96.51/96/95.
Major resistance - 100. Any break above 100 confirms minor bullishness, a jump to 100.50/102/102.80 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 with SL around 98.60 for TP of 100.
