AUD/JPY may fall 55 - 82 pips

Our pivot point is at 99.76.

Our preference

The downside prevails as long as 99.76 is resistance.

Alternative scenario

Above 99.76, look for 100.22 and 100.49.

Comment

The RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). 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 99.86 and 100.78).

Supports and resistances

100.49 **

100.22 *

99.76 **

99.58

99.25 last

98.70

98.43 **

98.15 *

97.88 **

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