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Relief Rally Extends to 112.75, but AUDJPY EMA Structure Favors Selling

 

 

 

Following Trump's cancellation of Iran's attack, AUDJPY shot over 112.50. Yesterday it fell as low as 112.03 and now it is trading near 112.75.

Technicals

CMP -112.70

Trend

4- Hour chart

Value

 

 

55 EMA

113.19

CMP<value

Bearish

200- EMA

113.37

CMP <value

Bearish

365- EMA

112.66

CMP>value

Bullish

 Major support- 112/111.80/110.

Major resistance-  113.20/113.56/114/115/116.25/117

Momentum indicator

Inference

Value

CCI(50)

Bearish

-54.52

ADX

Neutral

 

 It is good to sell on rallies around 112.58-60 with SL around 113.20 for a TP of 110.50.

 

 

 

 

 

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