AUDJPY Bounces Off 38.2% Fib – Bulls Eye 107+ on 105 Hold

Trades in AUDJPY rise after finding support at around the 38.2% Fibonacci level. As long as Support 105 is maintained, the intraday trend is bullish. Having already achieved a session peak of 105.90, it is presently trading around 105.84.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 105.82

EMA (4-hour chart)

55-EMA- 105.68

200-EMA- 104.22

365-EMA- 102.81. The pair trades above the short and long-term moving averages.

Major Support- 105.70. Any breach below 105.70 will drag the pair down to 105.44/105/104.70/104.35/103.80/103.50/103.

Major resistance - 106. Any break above 106 confirms minor bullishness; a jump to 106.75/107/107.77/108/109 is possible.

Indicator (4-hour chart)

CCI (50)-  Bearish

Average directional movement Index-  Neutral. All indicators confirm a mixed trend.

It is good to buy on dips around 105.40-45 with SL 104.70 for TP of 107.