AUD/JPY may fall 88 - 127 pips

98.01 is our pivot point.

Our preference

Under pressure below 98.01.

Alternative scenario

The upside breakout of 98.01, would call for 98.65 and 99.04.

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 price stands below its 20 and 50 period moving average (respectively at 97.39 and 97.34). Finally, the AUD/JPY has penetrated its lower Bollinger band (97.10).

Supports and resistances

99.04 **

98.65 *

98.01 **

97.75

97.06 last

96.18

95.79 **

95.41 *

95.03 **

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