AUD/JPY may rise 85 - 124 pips

Our pivot point stands at 98.07.

Our preference

As long as 98.07 is support look for 99.83.

Alternative scenario

The downside breakout of 98.07 would call for 97.41 and 97.02.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (98.65) but above its 50 period moving average (97.97).

Supports and resistances

100.61 **

100.22 *

99.83 **

99.44

98.59 last

98.33

98.07 **

97.41 *

97.02 **

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