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AUDJPY Bounces Back: Strategic Buy at 107 Targets 110

As the yen lost its force, AUDJPY regained over 200 pips. As long as support 106.50 holds, the intraday trend is upward. It is now trading at about 107.79, having reached a high of 108.58 yesterday.

 

Oscillators and moving averages to forecast the trend of AUDJPY

 

CMP- 107.79

EMA (1-hour chart)

55-EMA- 107.19

200-EMA- 105.57

365-EMA- 104.03. The pair trades above short and long-term moving averages.

Major Support- 107.50. Any breach below 107.50 will drag the pair down to 107/106/105.44/105/104.70/104.35/103.80/103.50/103.

Major resistance - 108. Any break above 108 confirms minor bullishness; a jump to 108.60/109/110 is possible.

Indicator (1-hour chart)

CCI (50)-  Bullish

Average directional movement Index-  neutral. All indicators confirm a neutral trend.

It is good to buy on dips around 107 with SL 106 for TP of 110.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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