AUD/JPY may rise 38 - 57 pips

Our pivot point stands at 107.95.

Our preference

Rebound towards 108.80.

Alternative scenario

The downside breakout of 107.95 would call for 107.65 and 107.46.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 108.26 and 108.35).

Supports and resistances

109.16 **

108.98 *

108.80 **

108.61

108.23 last

108.07

107.95 **

107.65 *

107.46 **

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