Intraday trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 100.39
Kijun-Sen level: 100.08
Ichimoku cloud top: 99.26
Ichimoku cloud bottom: 99.08
AUD/JPY has made a high of 100.83 and is slightly retreating from that level. Intraday trend is bullish as long as support 99.65 (resistance turned into support) holds.
On the downside break below will target 99.40/99. Short term bullish invalidation only below 98.
The pair is facing minor resistance around 101. Any indicative break above will target 102 (50% projection of 91.75 to 100.83 from 98.10).
Recommendation: Buy AUD/JPY around 100.15, SL 99.65, Target 101/102.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 100.39
Kijun-Sen level: 100.08
Ichimoku cloud top: 99.26
Ichimoku cloud bottom: 99.08
AUD/JPY has made a high of 100.83 and is slightly retreating from that level. Intraday trend is bullish as long as support 99.65 (resistance turned into support) holds.
On the downside break below will target 99.40/99. Short term bullish invalidation only below 98.
The pair is facing minor resistance around 101. Any indicative break above will target 102 (50% projection of 91.75 to 100.83 from 98.10).
Recommendation: Buy AUD/JPY around 100.15, SL 99.65, Target 101/102.