AUD/JPY may fall 84 - 112 pips

Our pivot point stands at 94.92.

Our preference

The downside prevails as long as 94.92 is resistance.

Alternative scenario

Above 94.92, look for 95.39 and 95.67.

Comment

The RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 95.18 and 96.17).

Supports and resistances

95.67 **

95.39 *

94.92 **

94.74

94.52 last

93.68

93.40 **

93.12 *

92.84 **

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