AUDJPY Struggles Below 100: Bearish Outlook Persists

AUDJPY lost its shine after a minor pullback above the 100 level. It hit a low of 98.82 and is currently trading around 99.40. Intraday trend remains bearish as long as the resistance at 100.40 holds.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 99.43

EMA (1-hour chart)

55-EMA- 99.69

200-EMA- 99.95

365-EMA- 99.72. The pair trades below the short and long-term moving averages.

Major Support- 98.80. Any breach below 99.80 will drag the pair down to 98.25/97.48/97/96/95/94.39.

Major resistance - 100. Any break above 100 confirms minor bullishness; a jump to 100.40/100.65/101.20/101.90/102.40/103 is possible.

Indicator (1-hour chart)

CCI (50)-  Bearish

Average directional movement Index-  Neutral. All indicators confirm a mixed trend. trend.

It is good to good to sell on rallies around 100.28-30 with SL around 101.20 for TP of 98.