AUD/JPY may fall 71 - 100 pips

Our pivot point stands at 97.32.

Our preference

The downside prevails as long as 97.32 is resistance.

Alternative scenario

The upside breakout of 97.32, would call for 97.80 and 98.09.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 97.11 and 97.40).

Supports and resistances

98.09 **

97.80 *

97.32 **

97.13

96.87 last

96.16

95.87 **

95.58 *

95.30 **

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