AUDJPY Surge Capped Below 101: Sell the Rally Amid Mixed Signals

The Australian dollar recovered and AUDJPY rose by over 150 points. At 100.39, it is trading around 100.208. Intraday trends stay bearish as long as resistance 101.20 holds.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 100.204

EMA (1-hour chart)

55-EMA- 100.03

200-EMA- 99.01

365-EMA- 98.16. The pair trades above short and long term moving average.

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 - 100.60. Any break above 100 confirms minor bullishness, a jump to 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.