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AUDJPY Eyes New Highs: Bulls Hold 102 Support, Target 104

AUDJPY holds above 102.50 on Australian dollar strength. Intraday is positive as long as support 102 holds. It reached an high of 102.84 yesterday and is currently trading around 102.673.

 

Oscillators and moving averages to forecast the trend of AUDJPY

 

CMP- 102.673

EMA (4-hour chart)

55-EMA- 101.86

200-EMA- 100.72

365-EMA- 99.70. The pair trades above the short and above long-term moving average.

Major Support- 102. Any breach below 102 will drag the pair down to 101.40/100.98/100.35/100/99.70/99/98.25/97.48/97/96/95/94.39.

Major resistance - 102.85. Any break above 102.85 confirms minor bullishness; a jump to 103.10/104/105 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 with SL around 101.40 for TP of 104.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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