AUD/JPY may rise 52 - 75 pips

104.22 is our pivot point.

Our preference

As long as 104.22 is support look for 105.30.

Alternative scenario

Below 104.22, expect 103.82 and 103.59.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (104.57) but above its 50 period moving average (104.53).

Supports and resistances

105.77 **

105.54 *

105.30 **

105.07

104.55 last

104.37

104.22 **

103.82 *

103.59 **

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