The AUD/JPY trades flat with no proper direction. It hit an intraday high of 96.06 and is currently trading around 95.916. The intraday trend remains bullish as long as support at 95.50 holds.
‘The pair is trading below 55 and 200 EMA and 365 EMA (long-term) on the 15-minute chart, confirming a bearish trend. Any violation below 95.50 indicates the intraday trend is weak. A dip to 94.90/93.95/93 is possible. Immediate resistance is at 96.20, a breach above this level targets 96.50/96.85/97.20/97.64/98.
Market Indicators ( 15-min chart)
CCI (50)- Bearish
Directional movement index - Neutral
Trading Strategy: Buy
It is good to buy on dips 95.78-80 with SL around 95.45 for a TP of 97.05.
