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AUDJPY Bears Take a Breather at 111.50, But ‘Sell on Rallies’ Still Eyes 110

AUDJPY trades flat with negative bias after a massive sell-off. It reached an low of 111.348 and is presently trading close to 111.51.

 

Technicals

CMP -111.506

Trend

4- Hour chart

Value

 

 

55 EMA

111.84

CMP< value

Bearish

200- EMA

112.55

CMP <value

Bearish

365- EMA

112.86

CMP<value

Bearish

 Major support- 111.30/110.80/110.

Major resistance-  111.80/112.40/113/113.56/114/115/116.25/117

OBV - Decrease in volume with price decline confirms bearish trend.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-62.30

ADX

Neutral

 

 It is good to sell on rallies around 111.68-70, with an SL around 112.25, for a TP of 110.

 

 

 

 

 

 

 

 

 

 

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