AUDJPY trades flat with positive bias. As long as support 105.80 holds, the intraday trend is bullish. Having already achieved a session high of 106.49, it is presently trading around 106.45.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 106.45
EMA (4-hour chart)
55-EMA- 105.83
200-EMA- 104.41
365-EMA- 102.99. The pair trades above short and above long term moving average.
Major Support- 105.80. Any breach below 105.80 will drag the pair down to 105.35/105/104.70/104.35/103.80/103.50/103.
Major resistance - 106.50. Any break above 106.50 confirms minor bullishness, a jump to 106.75/107/107.77/108/109 is possible.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index- Bullish. All indicators confirm a bullish trend.
It is good to buy on dips around 105.70-75 with SL 105 for TP of 107.
