AUD/JPY may rise to 110.37 - 112.00

Our pivot point stands at 104.58.

Our preference

As long as 104.58 is support look for 112.

Alternative scenario

The downside breakout of 104.58 would call for 101.84 and 100.21.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 106.50 and 104.28).

Supports and resistances

115.27 **

113.64 *

112.00 **

110.37

106.80 last

105.66

104.58 **

101.84 *

100.21 **

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