As the yen lost its force, AUDJPY hits 2 -1/2 years high. As long as support 108.60 holds, the intraday trend is upward. It is now trading about 109.88, having reached an intraday high of 109.95.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 110.08
EMA (1-hour chart)
55-EMA- 108.81
200-EMA- 107.86
365-EMA- 107.25. The pair trades above the short and long-term moving averages.
Major Support- 109.20. Any breach below 109.20 will drag the pair down to 108.75/108.25/107.80/107.40/107/106/105.44/105.
Major resistance - 110. Any break above 110 confirms minor bullishness; a jump to 110.78/112 is possible.
Indicator (1-hour chart)
CCI (50)- Bullish
Average directional movement Index- Bullish. All indicators confirm a bullish trend.
It is good to buy on dips around 109.48-50 with SL 108.45 for TP of 112.
