AUDJPY Finds Support Post-RBA: Buy Dips for a Target of 102.40

AUDJPY showed a minor pullback RBA monetary policy. It hits an intraday low of 100.44 and is currently trading around 100.55. Intraday trend remains bullish as long as support 100 holds.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 100.548

EMA (4-hour chart)

55-EMA- 100.13

200-EMA- 98.89

365-EMA- 98.03. The pair trades above short and long-term moving averages.

Major Support- 100.40. Any breach below 100.40 will drag the pair down to 100/99.40/98.80/98.25/97.48/97/96/95/94.39.

Major resistance - 101.20. Any break above 101.20 confirms minor bullishness; a jump to 101.90/102.40/103 is possible.

Indicator (4-hour chart)

CCI (50)-  Bullish

Average directional movement Index-  Neutral. All indicators confirm a mixed trend. trend.

It is good to good to buy on dips around 100.60-65 with SL around 100 for TP of 102..40.