AUD/JPY may fall 82 - 120 pips

Our pivot point stands at 97.73.

Our preference

Eye 96.01.

Alternative scenario

The upside breakout of 97.73, would call for 98.38 and 98.76.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is below its 20 period moving average (97.31) but above its 50 period moving average (97.18).

Supports and resistances

98.76 **

98.38 *

97.73 **

97.48

97.21 last

96.39

96.01 **

95.62 *

95.24 **

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