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AUDJPY Stuck in Tight Range – Time to Sell Rallies Toward 110?

AUDJPY has been consolidating in a narrow range between 112.81 and 112.24 for the past 3 days.  It hit a high of 112.75 and is now trading close to 112.44.

Technicals

CMP -112.44

Trend

1- Hour chart

Value

 

 

55 EMA

112.17

CMP>value

Bullish

200- EMA

112.639

CMP <alue

Bearish

365- EMA

112.50

CMP<value

Bearish

800-H EMA

112.62

CMP<value

Bearish

 Major support-111.50/ 110.80/110.

Major resistance-  113/113.56/114/115/116.25/117.

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

127.42

ADX

Neutral

 

 It is good to sell on rallies around 112.58-60 with SL around 113.40 for a TP of 110.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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