AUDJPY has traded in a narrow range between 102.85 and 102.01 for the past three days. Intraday is positive as long as support 102 holds. It reached an intraday high of 102.67 and is currently trading around 102.618.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 102.673
EMA (4-hour chart)
55-EMA- 101.97
200-EMA- 100.82
365-EMA- 99.79. 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 - 102.85. Any break above 102.85 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.
