AUD/JPY may rise 60 - 89 pips

Our pivot point stands at 96.87.

Our preference

Rebound.

Alternative scenario

Below 96.87, expect 96.39 and 96.10.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (97.09) but under its 50 period moving average (97.57).

Supports and resistances

98.84 **

98.55 *

98.27 **

97.98

97.38 last

97.06

96.87 **

96.39 *

96.10 **

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