AUDJPY on Fire: RBA Hawkish Pause Ignites Break Above 103.50 – Bulls Target 105 Next

AUDJPY gained above 103.50 after RBA's slight hawkish rate pause. Intraday is positive as long as support at 102.95 holds. It reached an intraday high of 103.79 and is currently trading around 103.745.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 103.745

EMA (4-hour chart)

55-EMA- 102.41

200-EMA- 101.09

365-EMA- 100.01. The pair trades above the short and above long-term moving average.

Major Support- 103. Any breach below 103 will drag the pair down to 102/101.40/100.98/100.35/100/99.70.

Major resistance - 103.80. Any break above 103.80 confirms minor bullishness; a jump to 104.55/105/106 is possible.

Indicator (4-hour chart)

CCI (50)-  Bullish

Average directional movement Index-  Bullish. All indicators confirm a Bullish trend. trend.

It is good to buy on dips around 103 with SL around 102 for TP of 105.