AUD/JPY may rise 76 - 105 pips

Our pivot point stands at 97.51.

Our preference

Rebound towards 98.99.

Alternative scenario

Below 97.51, expect 97.02 and 96.73.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 98.10 and 98.81).

Supports and resistances

99.57 **

99.28 *

98.99 **

98.70

97.94 last

97.70

97.51 **

97.02 *

96.73 **

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