AUDJPY showed a little pullback after reaching an intraday high of 99.23 and is presently trading at around 99.18 near the 200-4H EMA. The intraday trend is up as support at 97.80 holds.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 99.04
EMA (4-hour chart)
55-EMA- 99.07
200-EMA- 97.08
365-EMA- 97.86. The pair trades above short and long-term moving averages.
Major Support- 100. Any breach below 100 will drag the pair down to 99.39/99/98.60/98/97.60/97/96.51/96/95.
Major resistance - 100.65. Any break above 100.65 confirms minor bullishness; a jump to 101.23/102/103 is possible.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index- Bullish . All indicators confirm a bullish trend.
It is good to buy on dips around 98.48-50 with SL around 97.80 for TP of 100
