After a lengthy consolidation, AUDJPY shot beyond the 100 mark. It is trading at almost 100 after hitting an intraday high of 100.17. The intraday trend is bullish so long as support 98.80 holds.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 100.17
EMA (4-hour chart)
55-EMA- 98.76
200-EMA- 98.17
365-EMA- 97.48. The pair trades above short and long-term moving averages.
Major Support- 99. Any breach below 99 will drag the pair down to 98.25/97.48/97/96/95/94.39.
Major resistance - 100.25. Any break above 100.25 confirms minor bullishness; a jump to 101/102.40/103 is possible.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index- Bullish. All indicators confirm a bullish trend.
It is good to good to buy on dips around 99.20 with SL around 98 for TP of 102.40.
