AUD/JPY may fall 84 - 124 pips

Our pivot point stands at 98.62.

Our preference

Eye 96.82.

Alternative scenario

The upside breakout of 98.62, would call for 99.30 and 99.70.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (98.15) but above its 50 period moving average (98.02).

Supports and resistances

99.70 **

99.30 *

98.62 **

98.35

98.06 last

97.22

96.82 **

96.41 *

96.01 **

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