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AUDJPY Breaks Key Trendline Support — Bears Eye 110 as Momentum Accelerates

 

 

AUDJPY breaks significant trend line support on board-based Australian dollar weakness. It reached an intraday low of 111.47 and is presently trading close to 111.50.

 

Technicals

CMP -111.44

Trend

4- Hour chart

Value

 

 

55 EMA

112.81

CMP< value

Bearish

200- EMA

113.17

CMP <value

Bearish

365- EMA

112.71

CMP>value

Bullish

 Major support- 111.40/110.80/110.

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

-249

ADX

Bearish

Strength increased from 15.08 to 28.79

 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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