AUDJPY gained sharply above 100.50 after the strong Australian CPI. It hits an intraday high of 100.72 and is currently trading around 100.647. Intraday trend remains bullish as long as support 99.40 holds.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 100.64
EMA (4-hour chart)
55-EMA- 100.21
200-EMA- 99.99
365-EMA- 99.75. The pair trades above short and long-term moving averages.
Major Support- 100. Any breach below 100 will drag the pair down to 99.40/98.80/98.25/97.48/97/96/95/94.39.
Major resistance - 100.75. Any break above 100.25 confirms minor bullishness; a jump to 101/101.90/102.40/103 is possible.
Indicator (15 min chart)
CCI (50)- Bullish
Average directional movement Index- Bullish. All indicators confirm a bullish trend.
It is good to good to buy on dips around 100.18-20 with SL around 99.40 for TP of 102.40.
