AUDJPY Squeezes Tight: Breakout Looms as Bulls Eye 103+ Upside

AUDJPY has been consolidating in a narrow range between 102.48 and 100.35 for the past week. Intraday trend is bullish as long as support 101.35 holds. It hits an intraday low of 101.93  and is currently trading around 101.95.
 

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 101.95

EMA (4-hour chart)

55-EMA- 101.40

200-EMA- 100.33

365-EMA- 99.35. The pair trades above the short-term and above long-term moving average.

Major Support- 101.40. Any breach below 101.40 will drag the pair down to 100.98/100.35/100/99.70/99/98.25/97.48/97/96/95/94.39.

Major resistance - 102.50. Any break above 102.50 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 101.40 with SL around 100.95 for TP of 102.40/103.