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AUD/JPY Rally Fades: Yen Comeback Turns 109 Zone Into Fresh Shorting Opportunity

AUDJPY pared most of its gains as the yen gained momentum. It hits an intraday low of9 and is currently trading around 108.82. Technicals CMP -108.98 Trend 1- Hour chart Value 55 EMA 109.29 CMP < Value Bearish 200- EMA 1…

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AUD/JPY Rally Fades: Yen Comeback Turns 109 Zone Into Fresh Shorting Opportunity
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AUDJPY pared most of its gains as the yen gained momentum.  It hits an intraday low of9  and is currently trading around 108.82.

 

Technicals

CMP -108.98

Trend

1- Hour chart

Value

 

 

55 EMA

109.29

CMP < Value

Bearish

200- EMA

109.13

CMP <value

Bearish

365- EMA

108.50

CMP more than value

Bullish

 

Major support- 108/106.85/106.

 

Momentum indicator

Inference

Value

CCI(50)

below zero line (bearish)

-94

ADX

Neutral

Strength     34 declined from 38

 

It is good to sell on rallies around 109.28-30 with SL around 110 for a TP of 106.

 

 

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