The AUD/JPY has formed a double bottom around 95.50 on weak yen. It hit an intraday high of 95.92 and is currently trading around 95.92. Intraday trend is bullish as long as the resistance at 95.50 holds.
‘The AUD/JPY pair is trading above 55 and above 200 EMA and below 365 EMA (long-term) on the 15-min chart, confirming a mixed trend. Any violation below 95.50 indicates the intraday trend is weak. A dip to 94.90/93.95/93 is possible. Immediate resistance is at 96, a breach above this level targets of 96.32/96.85/97.20/97.64/98.
Market Indicators ( 15-min chart)
CCI (50)- Bullish
Directional movement index - Bullish
Trading Strategy: Buy
It is good to buy above 96 with SL around 95.45 for a TP of 97.05.
