AUD/JPY may rise 84 - 125 pips

97.73 is our pivot point.

Our preference

The upside prevails as long as 97.73 is support.

Alternative scenario

The downside breakout of 97.73 would call for 97.05 and 96.64.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 97.96 and 98.05).

Supports and resistances

100.36 **

99.95 *

99.55 **

99.14

98.30 last

98.00

97.73 **

97.05 *

96.64 **

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