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AUDJPY Faces Headwinds: Selling on Rallies Advised as Bearish Trend Emerges

AUDJPY pared its gains made yesterday on board-based yen buying. It hits an intraday low of 111.21 and is now trading close to 111.47.

Technicals

CMP -111.30

Trend

1- Hour chart

Value

 

 

55 EMA

111.99

CMP> value

Bearish

200- EMA

112.07

CMP <value

Bearish

365- EMA

112.36

CMP<value

Bearish

 Major support- 110.80/110.

Major resistance-  112/113/113.56/114/115/116.25/117.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-179

ADX

Neutral

 

 It is good to sell on rallies around 112 with SL around 113 for a TP of 110.

 

 

 

 

 

 

 

 

 

 

 

 

 

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