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AUDJPY: Bearish Setup Intact — Sell Rallies Near 103.30 Targeting 100 
- Major resistance- 95.50 (May 19th 2016 high)
- Major support – 94.80 (55 day 4 H EMA)
- US Dollar index has surged past 95.50 and jumped till 95.54 at the time of writing. It is currently trading around 95.45.
- DXY breach of 95.50 confirms minor trend reversal .Break above 95.50 will take the index till 96.40/97.10.
- On the lower side minor support 94.80 (55 day 4H EMA) and any break below targets 94.20 (21 day MA)/93.60.
It is good to buy at dips around 95.25 with SL around 94.75 for the TP of 95.85/96.40.
R1-95.50
R2-96.40
R3-97.10
Support
S1-94.80
S2-94.20
S3-93.60
