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AUDJPY Trapped in Narrow Range: Bearish Technicals Suggest Downside Risk

AUDJPY is consolidating in a narrow range between 111.99 and  111.24 for the past three days. It fell to 111.24 and is now trading close to 111.589.

Technicals

CMP -111.589

Trend

4- Hour chart

Value

 

 

55 EMA

112.25

CMP< value

Bearish

200- EMA

112.93

CMP <value

Bearish

365- EMA

112.62

CMP<value

Bearish

 Major support- 110.80/110.

Major resistance-  111.80/112.40/113/113.56/114/115/116.25/117.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-89.74

ADX

Neutral

 

 It is good to sell on rallies around 111.68-70, with an SL around 112.25, for a TP of 110.

 

 

 

 

 

 

 

 

 

 

 

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