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AUDJPY Reclaims 114: Bears Growl in the Short Term, But Bulls Hold the Line

AUDJPY recovered slightly above the 114 level on board-based yen weakness. It reached a low of 113.64 yesterday and is presently trading close to 114.11.

 

Technicals

CMP -114.11

Trend

4- Hour chart

Value

 

 

55 EMA

114.12

CMP<value

Bearish

200- EMA

113.57

CMP >value

Bullish

365- EMA

112.63

CMP>value

Bullish

 Major support- 113.80/113.38/112.80/112/111.80/110.

Major resistance-  115/116.25/117

Momentum indicator

Inference

Value

CCI(50)

Bearish

-71.22

ADX

Bearish

Strength increased from 13.83 to 24.72

 It is good to buy on dips around 113.85 with SL around 113 for a TP of 116.25/117.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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