AUD/JPY may fall 50 - 73 pips

Our pivot point is at 105.46.

Our preference

The downside prevails as long as 105.46 is resistance.

Alternative scenario

Above 105.46, look for 105.85 and 106.08.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 105.26 and 105.35).

Supports and resistances

106.08 **

105.85 *

105.46 **

105.31

105.14 last

104.64

104.41 **

104.18 *

103.95 **

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