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Aussie Retreat: AUDJPY Faces Steep Descent as Bearish Momentum Accelerates

 

 

AUDJPY pared most of its gains on board-based Australian dollar weakness. It reached an intraday  low of 113.39 and is presently trading close to 113.489

 

Technicals

CMP -113.242

Trend

1- Hour chart

Value

 

 

55 EMA

113.67

CMP<value

Bearish

200- EMA

113.75

CMP <value

Bearish

365- EMA

113.635

CMP<value

Bearish

 Major support- 113/112/111.80/110.

Major resistance-  113.70/114.40/115/116.25

Momentum indicator

Inference

Value

CCI(50)

Bearish

-70.34

ADX

Bearish

Strength increased from 18.97 to 21.62

 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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