AUD/JPY Charges Higher: Bull Run Targets 105 as Aussie Strength Dominates

Trades in AUDJPY soar higher for a third straight day on a strong Australian dollar. Intraday is positive as long as support at 102.95 holds. With a top of 104.25, it is now trading at about 104.175.

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 104.17

EMA (1-hour chart)

55-EMA- 102.71

200-EMA- 101.13

365-EMA- 100.135. The pair trades above the short and above long-term moving average.

Major Support- 103.80. Any breach below 103.80 will drag the pair down to 103.40/102.95/102/101.40/100.98/100.35/100/99.70.

Major resistance - 104.30. Any break above 104.30 confirms minor bullishness; a jump to 104.55/105/106 is possible.

Indicator (4-hour chart)

CCI (50)-  Bullish

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

It is good to buy on dips around 103.40-42 with SL around 102.80 for TP of 105.