AUD/JPY may rise 43 - 61 pips

Our pivot point stands at 108.94.

Our preference

The upside prevails as long as 108.94 is support.

Alternative scenario

Below 108.94, expect 108.63 and 108.44.

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 109.09 and 108.98). Finally, the AUD/JPY has crossed above its upper Bollinger band (109.20).

Supports and resistances

110.22 **

110.04 *

109.85 **

109.67

109.24 last

109.06

108.94 **

108.63 *

108.44 **

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