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AUDJPY: Bearish Outlook Despite Short-Term Bullish Signals, Sell Rallies Near 110.78

Following two weeks of continuous decline, AUDJPY trades above 110. It reached an intraday low of 109.66 and is currently trading around 110.35.

Technicals

CMP -110.35

Trend

1-hour chart

Value

 

 

55 EMA

110.31

CMP>value

Bullish

200- EMA

111.18

CMP <value

Bearish

365- EMA

111.85

CMP<Value

Bearish

800-H EMA

112.42

CMP<Value

Bearish

  Major support- 109.30/108/107.69.

Major resistance: 111/111.50/111.71/112/112.60/113/113.75/115.

Momentum indicator

Inference

Value

CCI(50)

Bullish

102

ADX

Neutral

 

 It is good to sell on rallies around 110.78-80 with SL around 111.50 for a TP of 108.

 

 

 

 

 

 

 

 

 

 

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