AUD/JPY may rise 57 - 85 pips

Our pivot point stands at 94.98.

Our preference

Rebound towards 96.24.

Alternative scenario

The downside breakout of 94.98 would call for 94.51 and 94.22.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 95.86 and 96.57).

Supports and resistances

96.80 **

96.52 *

96.24 **

95.96

95.39 last

95.17

94.98 **

94.51 *

94.22 **

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