AUDJPY showed a minor sell-off on Australian dollar weakness. It hits an intraday low of 100.758 and is currently trading around 100.849. The intraday trend remains bullish as long as support at 100.40 holds.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 100.85
EMA (4-hour chart)
55-EMA- 100.59
200-EMA- 99.54
365-EMA- 98.65. The pair trades above short and long term moving average.
Major Support- 100.40. Any breach below 100.40 will drag the pair down to 99.70/99/98.25/97.48/97/96/95/94.39.
Major resistance - 101.20. Any break above 101.20 confirms minor bullishness, a jump to 101.80/102.40/103 is possible.
Indicator (1-hour chart)
CCI (50)- Bullish
Average directional movement Index- Neutral. All indicators confirm a mixed trend. trend.
It is good to good to buy on dips around 100.48-50 with SL around 99.80 for TP of 102.40.
