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AUDJPY Cracks Below 113: Bearish Breakdown Accelerates Toward 110.50 Target

As the Australian dollar loses strength, AUDJPY trades poor. It dropped to 112.56 and is now trading close to 113.17.

 

Technicals

CMP -113.17

Trend

4- Hour chart

Value

 

 

55 EMA

113.93

CMP<value

Bearish

200- EMA

113.56

CMP <value

Bearish

365- EMA

112.59

CMP<value

Bearish

 Major support- 112.50/112/111.80/110.

Major resistance-  113.20/113.56/114/115/116.25/117

Momentum indicator

Inference

Value

CCI(50)

Bearish

-231.08

ADX

Bearish

Strength increased from 26.12 to 36.81

 It is good to sell on rallies around 113.28-30, with an SL around 114, for a TP of 110.50.

 

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