AUD/JPY may fall 88 - 129 pips

Our pivot point stands at 99.14.

Our preference

Target 97.24.

Alternative scenario

Above 99.14, look for 99.83 and 100.23.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (98.68) but above its 50 period moving average (98.50).

Supports and resistances

100.23 **

99.83 *

99.14 **

98.87

98.53 last

97.65

97.24 **

96.84 *

96.43 **

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