AUD/JPY may fall 48 - 72 pips

105.76 is our pivot point.

Our preference

Target 104.72.

Alternative scenario

Above 105.76, look for 106.15 and 106.39.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (105.52) but above its 50 period moving average (105.33).

Supports and resistances

106.39 **

106.15 *

105.76 **

105.61

105.44 last

104.96

104.72 **

104.49 *

104.26 **

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