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AUDJPY Bounces 150 Pips on Short Covering — Sell Rallies at 111.40 Targeting 108 as Higher EMAs Stay Bearish

On short covering, AUDJPY increased more than 150 pips. Yesterday it reached a low of 109.3; today it is trading near 110.96.

Technicals

CMP -110.96

Trend

1- Hour chart

Value

 

 

55 EMA

110.89

CMP>value

Bullish

200- EMA

112.45

CMP <alue

Bearish

365- EMA

112.83

CMP<value

Bearish

800-H EMA

112.94

CMP<value

Bearish

  Major support- 109.30/108/107.69.

Major resistance-  111/112/113.10/114.

Momentum indicator

Inference

Value

CCI(50)

Neutral

 

ADX

Neutral

 

 It is good to sell on rallies around 111.38-40 with SL around 112.20 for a TP of 108.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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