AUD/JPY may rise 79 - 108 pips

Our pivot point is at 97.61.

Our preference

Rise to 99.12.

Alternative scenario

Below 97.61, expect 97.12 and 96.83.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the pair is trading under its 20 period moving average (98.04) but above its 50 period moving average (98.03).

Supports and resistances

99.70 **

99.41 *

99.12 **

98.83

98.04 last

97.80

97.61 **

97.12 *

96.83 **

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