AUDJPY Shines Above 99: Bullish Momentum Targets 100

AUDJPY holds well above 99 on board-based yen selling. It hits an intraday high of 99.53 and is presently trading at around 99.45. The intraday trend is bullish as long as support 98 holds.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 99.45

EMA (4-hour chart)

55-EMA- 98.61

200-EMA- 98.10

365-EMA- 97.43. The pair trades above the short-term moving average and below the long-term moving average.

Major Support- 98.40. Any breach below 98.40 will drag the pair down to 98.22/98/97.60/97.25/96/95/94.39.

Major resistance - 99.60. Any break above 99.60 confirms minor bullishness; a jump to 100/101 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 99 with SL around 98.40 for TP of 100/101.