AUD/JPY may fall 57 - 85 pips

Our pivot point stands at 93.74.

Our preference

Technical rebound towards 93.74 before a new drop.

Alternative scenario

Above 93.74, look for 94.20 and 94.48.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (92.72) but below its 50 period moving average (93.33).

Supports and resistances

94.48 **

94.20 *

93.74 **

93.55

93.27 last

92.70

92.42 **

92.15 *

91.87 **

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