AUD/JPY may rise 84 - 124 pips

97.31 is our pivot point.

Our preference

Rebound towards 99.20.

Alternative scenario

The downside breakout of 97.31 would call for 96.63 and 96.23.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 98.06 and 98.42).

Supports and resistances

100.01 **

99.61 *

99.20 **

98.80

97.96 last

97.58

97.31 **

96.63 *

96.23 **

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