AUDJPY showed a minor profit booking due to the strong yen. It hits an intraday low of 99.67 and is currently trading around 99.695. Intraday trend remains bullish as long as support 98.80 holds.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 99.63
EMA (15-min chart)
55-EMA- 100.03
200-EMA- 99.85
365-EMA- 99.54. The pair trades above the short and long-term moving averages.
Major Support- 99. Any breach below 99 will drag the pair down to 98.25/97.48/97/96/95/94.39.
Major resistance - 100.25. Any break above 100.25 confirms minor bullishness; a jump to 101/102.40/103 is possible.
Indicator (15 min chart)
CCI (50)- Bearish
Average directional movement Index- Bearish. All indicators confirm a bearish trend.
It is good to good to buy on dips around 99.48-50 with SL around 98.80 for TP of 102.40.
