AUD/JPY may fall 57 - 84 pips

Our pivot point is at 101.06.

Our preference

The downside prevails as long as 101.06 is resistance.

Alternative scenario

The upside breakout of 101.06, would call for 101.52 and 101.80.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 100.76 and 100.88).

Supports and resistances

101.80 **

101.52 *

101.06 **

100.88

100.66 last

100.09

99.82 **

99.54 *

99.27 **

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