AUD/JPY took support near the trend line support and showed a minor pullback. Reaching an intraday high of 97.48, it now trades at around 97.37. The intraday trend is bearish as long as the resistance at 98.25 holds.
Oscillators and moving averages to forecast the trend of NDJPY
CMP- 97.38
EMA (1-hour chart)
55-EMA- 97.315
200-EMA- 97.55
365-EMA- 97.62. The pair trades above the short and below the long-term moving average.
This week's low- 96.85 (Oct 2nd low). Any breach below 96.85 will drag the pair down to 96.51/96/95.
This week's high- 98.15 (Sep 25th high). Any break above 98.25 confirms minor bullishness; a jump to 99/100 is possible. Minor resistance 97.61/97.80.
Indicator (4-hour chart)
CCI (50)- Bearish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to sell on rallies around 97.68-70 with SL around 98.25 for TP of 96.
