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The AUD/JPY showed a minor pullback as the Australian dollar recovered. It reached an intraday high of 95.739 and is currently trading around 95.73. The intraday trend remains bullish as long as support at 95 holds.
‘The pair is trading above 55 and 200 EMA and below 365 EMA (long-term) on the 1-hour chart, confirming a mixed 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 96, a breach above this level targets 96.20/96.50/96.85/97.20/97.64/98.
Market Indicators ( 1-hour chart)
CCI (50)- Bullish
Directional movement index - neutral
Trading Strategy: buy
It Is good to buy on dips around 95.50 with SL around 95 for a TP of 96.50/97.20.
