AUD/JPY showed a gap-up opening of more than 100 pips. Reaching an intraday high of 99.13, it now trades at around 99.13. The intraday trend is bullish as long as support at 98 holds.
Oscillators and moving averages to forecast the trend of NDJPY
CMP- 99.13
EMA (4-hour chart)
55-EMA- 97.57
200-EMA- 97.18
365-EMA- 96.58. The pair trades above the short and long-term moving averages.
Major Support- 98. Any breach below 98 will drag the pair down to 97.60/97/96.51/96/95.
Major resistance - 99.20. Any break above 99.20 confirms minor bullishness; a jump to 100/100.50 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 98 with SL around 97.60 for TP of 100.
