AUDJPY Yen Hammer Falls – Profits Sliced, Bears Eye Sub-105

Most of its profits from the board-based Yen strength AUDJPY trimmed. As long as resistance 108 holds, the intraday trend is bearish. Already at a low of 106.07 yesterday, it is presently trading around 106.80.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 106.85

EMA (15-min chart)

55-EMA- 106.72

200-EMA- 107.02

365-EMA- 107.09. The pair trades above short and below  long term moving average.

Major Support- 106.50. Any breach below 106.50 will drag the pair down to 106/105.44/105/104.70/104.35/103.80/103.50/103.

Major resistance - 107.25. Any break above 107.25 confirms minor bullishness, a jump to 108/108.52/109.20/110 is possible.

Indicator (15- min chart)

CCI (50)-  Bullish

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

It is good to sell on rallies around 107.18-20 with SL 108 for TP of 105/104.35.