The AUD/JPY holds above 96.50 on weak yen. It reached a high of 96.67 and is currently trading around 96.617. The intraday trend remains bullish as long as support at 95 holds.
The pair is trading above the 55 and 200 EMA, and below the 365 EMA (long-term), on the one-hour chart, confirming a bullish trend. Any violation below 96.40 indicates the intraday trend is weak. A dip to 96/ 95.50/95/94.40/93.95/93 is possible. Immediate resistance is at 96.70, a breach above this level targets 97.20/97.64/98.
Market Indicators ( 60 min chart)
CCI (50)- Bullish
Directional movement index - neutral
Trading Strategy: Buy
It is good to buy on dips around 96.40 with SL around 96 for a TP of 97.20/98.
