AUDJPY holds above 103 on board-based Australian dollar buying. Intraday is positive as long as support 102 holds. It reached an intraday high of 103.19 and is currently trading around 103.10.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 103.16
EMA (4-hour chart)
55-EMA- 102.18
200-EMA- 100.95
365-EMA- 99.89. The pair trades above the short and above long-term moving average.
Major Support- 102.50 Any breach below 102.50 will drag the pair down to 102/101.40/100.98/100.35/100/99.70/99/98.25/97.48/97/96/95/94.39.
Major resistance - 103.20. Any break above 103.20 confirms minor bullishness; a jump to 104/105 is possible.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index- Neutral. All indicators confirm a neutral trend. trend.
It is good to buy on dips around 102.50 with SL around 101.90 for TP of 104.
