AUD/JPY may rise 102 - 136 pips

Our pivot point stands at 95.16.

Our preference

The upside prevails as long as 95.16 is support.

Alternative scenario

The downside breakout of 95.16 would call for 94.59 and 94.26.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 94.66 and 94.46). Finally, the AUD/JPY is trading above its upper Bollinger band (standing at 95.70).

Supports and resistances

97.86 **

97.52 *

97.18 **

96.84

95.82 last

95.38

95.16 **

94.59 *

94.26 **

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