AUDJPY showed a minor sell-off as the Australian dollar declined more than 50 pips. It hit a high of 101.82 yesterday and is currently trading around 100.85. Intraday trend remains bullish as long as support 100.40 holds.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 100.858
EMA (1-hour chart)
55-EMA- 100.53
200-EMA- 99.47
365-EMA- 98.58. The pair trades below the short and long-term moving averages.
Major Support- 100.40. Any breach below 100.40 will drag the pair down to 99.70/99/98.25/97.48/97/96/95/94.39.
Major resistance - 101.20. Any break above 101.20 confirms minor bullishness; a jump to 101.80/102.40/103 is possible.
Indicator (1-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 100.48-50 with SL around 99.80 for TP of 102.40.
