AUDJPY showed a minor pullback after forming a minor bottom around 100.35. The intraday trend remains bullish as long as the 100 support level holds. It has an intraday high of 101.29 and is currently trading around 101.16.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 101.16
EMA (4-hour chart)
55-EMA- 101.05
200-EMA- 99.99
365-EMA- 99.04. The pair trades above short and above long term moving average.
Major Support- 101. Any breach below 101 will drag the pair down to 100/99.70/99/98.25/97.48/97/96/95/94.39.
Major resistance - 101.70. Any break above 101.70 confirms minor bullishness, a jump to 102.50/103//104/105 is possible.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index- Bullish. All indicators confirm a bullish trend. trend.
It is good to buy on dips around 101 with SL around 100.35 for TP of 102.40.
