AUD/JPY may rise 82 - 123 pips

Our pivot point stands at 97.59.

Our preference

As long as 97.59 is support look for 99.47.

Alternative scenario

The downside breakout of 97.59 would call for 96.90 and 96.50.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 98.24 and 98.08).

Supports and resistances

100.28 **

99.87 *

99.47 **

99.06

98.24 last

97.85

97.59 **

96.90 *

96.50 **

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