AUD/JPY may rise 78 - 117 pips

Our pivot point is at 96.62.

Our preference

Rebound towards 98.40.

Alternative scenario

The downside breakout of 96.62 would call for 95.98 and 95.59.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 97.24 and 97.36).

Supports and resistances

99.17 **

98.78 *

98.40 **

98.01

97.23 last

96.88

96.62 **

95.98 *

95.59 **

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