AUD/JPY may rise 59 - 89 pips

Our pivot point is at 97.58.

Our preference

Our next up target stands at 98.91.

Alternative scenario

Below 97.58, expect 97.10 and 96.81.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 97.72 and 97.94).

Supports and resistances

99.49 **

99.20 *

98.91 **

98.61

98.02 last

97.78

97.58 **

97.10 *

96.81 **

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