AUDJPY: Dip-Buying Bias Holds Above 105 as Bulls Target a Run Toward 107

AUDJPY holds above 105 on board-based Australian dollar buying. Intraday trend is bullish as long as support 103.80 endures. Presently at 105.18, it touched an intraday high of 105.25.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 105.175

EMA (4-hour chart)

55-EMA- 104.50

200-EMA- 103.07

365-EMA- 101.77. The pair trades above the short and long-term moving averages.

Major Support- 104.35. Any breach below 104.35 will drag the pair down to 103.80/103.50/103/102.79/102.25/102/101.40/100.98/100.35/100/99.70.

Major resistance - 105.25. Any break above 105.25 confirms minor bullishness; a jump to 105.70/106/107 is possible.

Indicator (4-hour chart)

CCI (50)-  Bullish

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

It is good to buy on dips around 105 with SL 104.35 for TP of 107.