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AUD/JPY: Sideways Shuffle Before the Next Big Move

The AUD/JPY trades flat with no proper direction.  It hit an intraday high of  96.06 and is currently trading around 95.916. The intraday trend remains bullish as long as support at 95.50 holds.

‘The pair is trading below  55 and 200 EMA and 365 EMA (long-term) on the 15-minute chart, confirming a bearish trend.  Any violation below 95.50 indicates the intraday trend is weak. A dip to 94.90/93.95/93 is possible.  Immediate resistance is at 96.20, a breach above this level targets 96.50/96.85/97.20/97.64/98.

Market Indicators ( 15-min chart)

CCI (50)- Bearish

Directional movement index - Neutral

Trading Strategy:  Buy

 
 It is good to buy on dips 95.78-80 with SL around 95.45  for a TP of 97.05.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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