As the yen lost its force, AUDJPY regained over 200 pips. As long as support 106.50 holds, the intraday trend is upward. It is now trading at about 107.79, having reached a high of 108.58 yesterday.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 107.79
EMA (1-hour chart)
55-EMA- 107.19
200-EMA- 105.57
365-EMA- 104.03. The pair trades above short and long-term moving averages.
Major Support- 107.50. Any breach below 107.50 will drag the pair down to 107/106/105.44/105/104.70/104.35/103.80/103.50/103.
Major resistance - 108. Any break above 108 confirms minor bullishness; a jump to 108.60/109/110 is possible.
Indicator (1-hour chart)
CCI (50)- Bullish
Average directional movement Index- neutral. All indicators confirm a neutral trend.
It is good to buy on dips around 107 with SL 106 for TP of 110.
