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AUDJPY Stuck in Consolidation: Bearish Indicators Point Toward "Sell on Rallies" Toward 110.00

AUDJPY has been consolidating in a narrow range between 114.23 and 112.63 for the past five days. It reached an intraday low of 112.84  and is presently trading close to 112.99.

 

Technicals

CMP -113.17

Trend

1- Hour chart

Value

 

 

55 EMA

113.34

CMP<value

Bearish

200- EMA

113.55

CMP <value

Bearish

365- EMA

113.53

CMP<value

Bearish

 Major support- 113/112/111.80/110.

Major resistance-  113.60/114/114.40/115/116.25

Momentum indicator

Inference

Value

CCI(50)

Bearish

46.05

ADX

Neutral

 

 It is good to sell on rallies around 113.68-70 with SL around 114.40 for a TP of 110.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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