AUDJPY isn't really going anywhere since the markets are in the New Year's Eve spirit. The short-term trend looks okay if it stays above 103.80. Right now, it's at 104.63, and yesterday it dipped to 104.35.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 104.64
EMA (4-hour chart)
55-EMA- 104.28
200-EMA- 102.84
365-EMA- 101.55. The pair trades above the short-term and long-term moving averages.
Major Support- 104.35. Any breach below 104.35 will drag the pair down to 103.80/103.50/103/102.79/102.25/102/101.40/100.98/100.35/100/99.70.
Major resistance - 105.20. Any break above 105.20 confirms minor bullishness; a jump to 105.70/106/107 is possible.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index- Neutral. All indicators confirm a neutral trend.
It is good to buy on dips around 104.48-50 with SL 103.80 for TP of 107.
