AUD/JPY may rise to 108.11 - 109.96

Our pivot point stands at 101.48.

Our preference

The upside prevails as long as 101.48 is support.

Alternative scenario

Below 101.48, expect 98.40 and 96.57.

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 above its 20 and 50 period moving average (respectively at 102.57 and 100.49).

Supports and resistances

113.65 **

111.80 *

109.96 **

108.11

104.07 last

102.70

101.48 **

98.40 *

96.57 **

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