AUD/JPY may fall to 97.40 - 99.37

106.81 is our pivot point.

Our preference

Under pressure below 106.81.

Alternative scenario

Above 106.81, look for 110.14 and 112.12.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 106.52 and 104.62). Finally, the AUD/JPY is trading below its lower Bollinger band (standing at 103.41).

Supports and resistances

112.12 **

110.14 *

106.81 **

105.50

103.36 last

99.37

97.40 **

95.44 *

93.48 **

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