AUD/JPY may fall 43 - 64 pips

Our pivot point stands at 107.64.

Our preference

The downside prevails as long as 107.64 is resistance.

Alternative scenario

The upside breakout of 107.64, would call for 107.99 and 108.20.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 107.43 and 107.46). Finally, the AUD/JPY has penetrated its lower Bollinger band (107.30).

Supports and resistances

108.20 **

107.99 *

107.64 **

107.50

107.25 last

106.82

106.61 **

106.40 *

106.19 **

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