AUD/JPY may rise 80 - 119 pips

Our pivot point stands at 98.00.

Our preference

As long as 98 is support look for 99.73.

Alternative scenario

Below 98.00, expect 97.35 and 96.96.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 98.37 and 97.76).

Supports and resistances

100.51 **

100.12 *

99.73 **

99.34

98.54 last

98.26

98.00 **

97.35 *

96.96 **

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