AUD/JPY may rise 60 - 88 pips

Our pivot point stands at 94.04.

Our preference

As long as 94.04 is support look for 95.63.

Alternative scenario

Below 94.04, expect 93.57 and 93.29.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 94.25 and 93.15).

Supports and resistances

96.19 **

95.91 *

95.63 **

95.35

94.75 last

94.23

94.04 **

93.57 *

93.29 **

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