AUDJPY trades highly volatile with a positive bias. The intraday trend is upward as long as support 106 holds. It hits an intraday high of 108.57 and is currently trading around 107.65.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 107.59
EMA (1-hour chart)
55-EMA- 107.59
200-EMA- 107.13
365-EMA- 106.65. The pair trades above both the short- and long-term moving averages.
Major Support- 107.50. Any breach below 107.50 will drag the pair down to 107/106/105.44/105/104.70/104.35/103.80/103.50/103.
Major resistance - 108. Any break above 108 confirms minor bullishness; a jump to 108.52/109.20/110 is possible.
Indicator (1-hour chart)
CCI (50)- Bullish
Average directional movement Index- neutral. All indicators confirm a neutral trend.
It is good to buy on dips around 107 with SL 106 for TP of 110.
