AUD/JPY may fall to 94.38 - 96.45

Our pivot point stands at 104.53.

Our preference

The downside prevails as long as 104.53 is resistance.

Alternative scenario

The upside breakout of 104.53, would call for 108.04 and 110.13.

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 is trading under both its 20 and 50 period moving average (respectively at 105.56 and 104.53).

Supports and resistances

110.13 **

108.04 *

104.53 **

103.15

101.33 last

96.45

94.38 **

92.32 *

90.25 **

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