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.