AUD/JPY may rise 89 - 129 pips

97.33 is our pivot point.

Our preference

Rebound towards 99.16.

Alternative scenario

The downside breakout of 97.33 would call for 96.65 and 96.25.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 97.93 and 98.04).

Supports and resistances

99.97 **

99.57 *

99.16 **

98.76

97.87 last

97.60

97.33 **

96.65 *

96.25 **

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