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Bearish Bias Persists: AUDJPY Technical Strategy Favors Selling on Rallies

AUDJPY showed a minor pullback after a sell-off of more than 250 pips. It hit a low of 111.16  and is now trading around 112.04.

Technicals

CMP -112.04

Trend

1- Hour chart

Value

 

 

55 EMA

112.19

CMP< value

Bearish

200- EMA

112.206

CMP >value

Bearish

365- EMA

111.75

CMP<value

Bullish

 Major support- 111.40/110.80/110.35/109.80.

Major resistance-  112.60/113/114/115/116.25

Momentum indicator

Inference

Value

CCI(50)

Bearish

-85.89

ADX

Neutral

 

 It is good to sell on rallies around 112.48-50 with SL around 113.20 for a TP of 110

 

 

 

 

 

 

 

 

 

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