AUDJPY holds above 103 after a 25 bps rate hike by BOJ. Intraday trend is bullish as long as the 102.30 support holds. Trading at 103.078 at present, it reached an intraday low of 103.06.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 103.45
EMA (4-hour chart)
55-EMA- 103
200-EMA- 101.92
365-EMA- 100.77. The pair trades above short and above long-term moving average.
Major Support- 102.95. Any breach below 102.95 will drag the pair down to 102.25/102/101.40/100.98/100.35/100/99.70.
Major resistance - 103.90. Any break above 103.40 confirms minor bullishness; a jump to 104.10/104.55/105/106 is possible.
Indicator (4-hour chart)
CCI (50)- Bearish
Average directional movement Index- Neutral. All indicators confirm a neutral trend. trend.
It is good to buy on dips around 103 with SL around 102 for TP of 105.
