AUD/JPY may rise 86 - 127 pips

Our pivot point stands at 97.78.

Our preference

The upside prevails as long as 97.78 is support.

Alternative scenario

Below 97.78, expect 97.10 and 96.69.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 98.17 and 98.22).

Supports and resistances

100.41 **

100.00 *

99.60 **

99.19

98.33 last

98.05

97.78 **

97.10 *

96.69 **

Number of asterisks represents the strength of support and resistance levels.