AUD/JPY may rise 44 - 65 pips

Our pivot point stands at 107.23.

Our preference

The upside prevails as long as 107.23 is support.

Alternative scenario

Below 107.23, expect 106.87 and 106.66.

Comment

The RSI is above its neutrality area at 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 107.43 and 107.28).

Supports and resistances

108.65 **

108.44 *

108.23 **

108.02

107.58 last

107.37

107.23 **

106.87 *

106.66 **

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