AUD/JPY may rise 51 - 75 pips

Our pivot point stands at 104.99.

Our preference

Rebound towards 106.07.

Alternative scenario

Below 104.99, expect 104.60 and 104.37.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (105.29) but under its 50 period moving average (105.38).

Supports and resistances

106.53 **

106.30 *

106.07 **

105.83

105.32 last

105.15

104.99 **

104.60 *

104.37 **

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