AUD/JPY may fall 50 - 73 pips

104.73 is our pivot point.

Our preference

The downside prevails as long as 104.73 is resistance.

Alternative scenario

Above 104.73, look for 105.13 and 105.36.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 104.55 and 104.52). Finally, the AUD/JPY is trading below its lower Bollinger band (standing at 104.39).

Supports and resistances

105.36 **

105.13 *

104.73 **

104.58

104.37 last

103.87

103.64 **

103.40 *

103.17 **

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