AUD/JPY may rise 52 - 75 pips

Our pivot point is at 104.98.

Our preference

Rebound towards 106.04.

Alternative scenario

The downside breakout of 104.98 would call for 104.59 and 104.36.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 105.29 and 105.37).

Supports and resistances

106.50 **

106.27 *

106.04 **

105.81

105.29 last

105.13

104.98 **

104.59 *

104.36 **

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