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Hammer and Bullish Divergence Signal Potential AUDJPY Rebound

Candle stik pattern- Hammer

Bullish divergence- CCI(50)

 

AUDJPY recovered slightly due to short covering. It his an intraday low of 110.27 and is currently trading near 111.16.

Technicals

CMP -111.16

Trend

1- Hour chart

Value

 

 

55 EMA

112.94

CMP<value

Bearish

200- EMA

113.08

CMP <value

Bearish

365- EMA

112.95

CMP<Value

Bearish

800-H EMA

111.71

CMP<Value

Bearish

  Major support- 110/109.30/108/107.69.

Major resistance: 111.37/111.71/112/112.60/113/113.75/115.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-141.61

ADX

Bearish

Strength increased from 56.35 to 60.04

 It is good to buy on dips around 111.18-20 with SL around 110.80 for a TP of 112.

 

 

 

 

 

 

 

 

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