AUD/JPY may fall 84 - 108 pips

Our pivot point is at 106.49.

Our preference

Under pressure below 106.49.

Alternative scenario

Above 106.49, look for 106.90 and 107.14.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 106.08 and 105.99).

Supports and resistances

107.14 **

106.90 *

106.49 **

106.33

105.93 last

105.09

104.85 **

104.61 *

104.36 **

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