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AUDJPY Coils in Tight Range: Bulls Eye Dips as 110 Support Sets the Stage for Breakout

AUDJPY has been consolidating in a narrow range between 109.62 and 110.52 for the past five days. It hit an intraday high of 110.33 and is now trading around 110.33

Technicals

CMP -110.33

Trend

1- Hour chart

Value

 

 

55 EMA

110.29

CMP>value

Bullish

200- EMA

110.235

CMP >value

Bullish

365- EMA

110.41

CMP<Value

Bearish

800-H EMA

111.03

CMP<Value

Bearish

  Major support: 108.80/107.69/107.

Major resistance:  111/112/112.60/113/113.75/115.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-63

ADX

Neutral

 

 It is good to buy on dips around 110 with SL around 109.50 for a TP of  112.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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