AUD/JPY may fall 73 - 107 pips

97.41 is our pivot point.

Our preference

Target 95.76.

Alternative scenario

The upside breakout of 97.41, would call for 97.98 and 98.33.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (97.03) but above its 50 period moving average (96.82).

Supports and resistances

98.33 **

97.98 *

97.41 **

97.18

96.83 last

96.10

95.76 **

95.42 *

95.08 **

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