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AUDJPY Momentum Fades at 111: Sell Rallies to 108 as Bearish EMAs Dominate

 AUDJPY trades above 111 as Australian dollar gains momentum. Yesterday it reached a high of 111.228; today it is trading near 111.08.

Technicals

CMP -111.08

Trend

1- Hour chart

Value

 

 

55 EMA

112.26

CMP>value

Bullish

200- EMA

112.84

CMP <alue

Bearish

365- EMA

112.75

CMP<value

Bearish

800-H EMA

111.12

CMP<value

Bearish

  Major support- 109.30/108/107.69.

Major resistance-  111.40/112/113.10/114.

Momentum indicator

Inference

Value

CCI(50)

Bearish

 

ADX

Neutral

 

 It is good to sell on rallies around 111.38-40, with an SL around 112.20, for a TP of 108.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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