AUD/JPY may rise 48 - 71 pips

Our pivot point stands at 103.49.

Our preference

Rebound towards 104.57.

Alternative scenario

Below 103.49, expect 103.10 and 102.86.

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 above its 20 period moving average (103.81) but under its 50 period moving average (104.08).

Supports and resistances

105.04 **

104.80 *

104.57 **

104.34

103.86 last

103.64

103.49 **

103.10 *

102.86 **

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