AUDJPY gained above 102.50 on the board-based Australian dollar. Intraday is positive as long as support 102 holds. It reached a high of 102.51 yesterday and is currently trading around 102.45.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 102.45
EMA (4-hour chart)
55-EMA- 101.73
200-EMA- 100.62
365-EMA- 99.62. 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 - 102.50. Any break above 102.50 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.
