AUD/JPY may fall 42 - 63 pips

Our pivot point is at 107.73.

Our preference

The downside prevails as long as 107.73 is resistance.

Alternative scenario

The upside breakout of 107.73, would call for 108.08 and 108.29.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 107.48 and 107.46).

Supports and resistances

108.29 **

108.08 *

107.73 **

107.59

107.41 last

106.99

106.78 **

106.57 *

106.36 **

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