AUDJPY Holds the Line: Positive Bias Intact Above 109 – Dip Buyers Eyeing 112 Breakout?

AUDJPY trades flat with positive bias. The intraday trend is up as long as support 109 holds. Having touched an intraday low of 109.68, it is currently trading around 109.80

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 109.80

EMA (1-hour chart)

55-EMA- 110.01

200-EMA- 109.10

365-EMA- 108.32. The pair trades below the short and long-term moving averages.

Major Support- 109.65. Any breach below 109.65 will drag the pair down to 108.60/108/107.40/107/106/105.44/105.

Major resistance - 110.20. Any break above 110.20 confirms minor bullishness; a jump to 110.80/112/113 is possible.

Indicator (1-hour chart)

CCI (50)-  Bearish

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

It is good to buy on dips around 109.48-50 with SL 108.80 for TP of 112.