AUD/JPY may rise 69 - 104 pips

Our pivot point stands at 96.42.

Our preference

As long as 96.42 is support look for 98.15.

Alternative scenario

Below 96.42, expect 95.84 and 95.50.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 97.04 and 96.43).

Supports and resistances

98.83 **

98.49 *

98.15 **

97.80

97.11 last

96.64

96.42 **

95.84 *

95.50 **

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