AUD/JPY may fall 81 - 120 pips

99.19 is our pivot point.

Our preference

Target 97.36.

Alternative scenario

Above 99.19, look for 99.85 and 100.24.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (98.69) but above its 50 period moving average (98.53).

Supports and resistances

100.24 **

99.85 *

99.19 **

98.93

98.56 last

97.75

97.36 **

96.97 *

96.58 **

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