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AUDJPY Rejected at 113: Triple EMA Bearish Stack and Surging ADX Point to 110.50

AUDJPY fell off somewhat after the pair was unable to keep over 113. It hit an intraday low of 112.36 and is currently trading near 112.40.

 

Technicals

CMP -112.40

Trend

4- Hour chart

Value

 

 

55 EMA

113.52

CMP<value

Bearish

200- EMA

113.47

CMP <value

Bearish

365- EMA

112.67

CMP<value

Bearish

 Major support- 112/111.80/110.

Major resistance-  113.20/113.56/114/115/116.25/117

Momentum indicator

Inference

Value

CCI(50)

Bearish

-136.89

ADX

Bearish

Strength increased from 28.19 to 44.32

 It is good to sell on rallies around 112.58-60 with SL around 113.20 for a TP of 110.50.

 

 

 

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