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AUDJPY Slips Below Key EMAs: Bearish Setup Favors Selling Bounces Near 108.30

AUDJPY lost its shine on board-based yen weakness. At 107.92, it reaches an intraday low; it is now trading at about 108.05.

 

Technicals

CMP -108.05

Trend

1- Hour chart

Value

 

 

55 EMA

108.49

CMP < value

Bearish

200- EMA

108.85

CMP < value

Bearish

365- EMA

108.49

CMP < value

Bearish

 

Major support- 108/106.85/106.

Major resistance-  109.25/109.60/110/110.78/11.64/112.

 

Momentum indicator

Inference

Value

CCI(50)

Below zero line (bearish)

-69.65

ADX

Bearish

Increased from 16.25 to 17.73

It is good to sell on rallies around 108.28-30 with SL around 108.85 for a TP of 106.

 

 

 

 

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