AUD/JPY may rise 37 - 55 pips

Our pivot point is at 107.45.

Our preference

The upside prevails as long as 107.45 is support.

Alternative scenario

Below 107.45, expect 107.14 and 106.96.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is below its 20 period moving average (107.74) but above its 50 period moving average (107.65).

Supports and resistances

108.65 **

108.46 *

108.28 **

108.10

107.73 last

107.57

107.45 **

107.14 *

106.96 **

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