AUDJPY Bulls Stay in Control: Buy the Dips Above 103.80 Targeting 106

AUDJPY holds above 104 on yen weakness. Intraday trend is bullish as long as the support at 103.80 holds. Trading at 104.229 at the present, it reached an intraday high of 104.3.1

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 104.23

EMA (4-hour chart)

55-EMA- 103.19

200-EMA- 102.03

365-EMA- 100.86. The pair trades above the short-term and the long-term moving average.

Major Support- 103.80. Any breach below 103.80 will drag the pair down to 103.50/103/102.79/102.25/102/101.40/100.98/100.35/100/99.70.

Major resistance - 104.50. Any break above 104.50 confirms minor bullishness; a jump to 105/106 is possible.

Indicator (4-hour chart)

CCI (50)-  Bullish

Average directional movement Index-  Neutral. All indicators confirm a mixed trend. trend.

It is good to buy on dips around 103.80 with SL 103 for TP of 106.