AUD/JPY may fall 48 - 71 pips

Our pivot point is at 107.22.

Our preference

The downside prevails as long as 107.22 is resistance.

Alternative scenario

Above 107.22, look for 107.62 and 107.85.

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 106.93 and 106.93).

Supports and resistances

107.85 **

107.62 *

107.22 **

107.07

106.83 last

106.35

106.12 **

105.88 *

105.65 **

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