AUDJPY trades flat ahead of BOJ monetary policy. Intraday trend is negative as long as the 103.70 resistance holds. Trading at 103.02 at present, it reached an intraday high of 103.10.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 103.02
EMA (1-hour chart)
55-EMA- 102.88
200-EMA- 103.037
365-EMA- 102.76. The pair trades above the short and below the 200 EMA and above the 365 EMA.
Major Support- 102.40. Any breach below 102.40 will drag the pair down to 102/101.40/100.98/100.35/100/99.70.
Major resistance - 103.40. Any break above 103.40 confirms minor bullishness; a jump to 104.10/104.55/105/106 is possible.
Indicator (1-hour chart)
CCI (50)- Bullish
Average directional movement Index- neutral. All indicators confirm a bearish trend. trend.
It is good to sell on rallies around 103.28-30 with SL around 104 for TP of 100.
Ahead of BOJ Decision: Sell on Rallies as Bearish Bias Holds Below 103.70
