Our pivot point is at 106.83.
Our preference
Rebound.
Alternative scenario
The downside breakout of 106.83 would call for 106.52 and 106.34.
Comment
The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (107.05) but under its 50 period moving average (107.20). Finally, the AUD/JPY is trading above its upper Bollinger band (standing at 107.15).
Supports and resistances
108.07 **
107.89 *
107.71 **
107.53
107.16 last
106.95
106.83 **
106.52 *
106.34 **
Number of asterisks represents the strength of support and resistance levels.


