AUDJPY Bulls Guard 100: Markets Eye CPI for Next Big Move

AUDJPY formed a double bottom around 100.35 and jumped above 101. Markets eye the Australian CPI data for further direction. Intraday trend is bullish as long as support 100 holds. It hit a low of 100.34 yesterday and is currently trading around 101.04.
 

Oscillators and moving averages to forecast the trend of AUDJPY

CMP- 101.04

EMA (4-hour chart)

55-EMA- 101.06

200-EMA- 100.06

365-EMA- 99.15. The pair trades above the short and above long-term moving average.

Major Support- 100.78. Any breach below 100.78 will drag the pair down to 100.35/100/99.70/99/98.25/97.48/97/96/95/94.39.

Major resistance - 101.20. Any break above 101.20 confirms minor bullishness, a jump to 101.70/102.50/103//104/105 is possible.

Indicator (4-hour chart)

CCI (50)-  Neutral

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

It is good to buy on dips around 100.78-80 with SL around 100.35 for TP of 102.40.