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AUDJPY Coils in Tight Range – Buy the Dip at 110.60, 112 in Sight

 

 

AUDJPY trades in a narrow range between 111.47 and 110.26 for the past three days. It is now trading at roughly 111.01 having reached an intraday high of 111.01.

 

Technicals

CMP -111.01

Trend

1- Hour chart

Value

 

 

55 EMA

110.77

CMP< value

Bullish

200- EMA

109.95

CMP< value

Bullish

365- EMA

109.45

CMP < value

Bullish

 

Major support- 110.35/109.80/108.95/108.50/107.65/106.85/106.

Major resistance-  111.64/112/113.

 

Momentum indicator

Inference

Value

CCI(50)

Neutral

 

ADX

Neutral

 

 It is good to buy on dips around 110.58-60 with SL around 109.80 for a TP of 112.

 

 

 

 

 

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