AUD/JPY may rise 87 - 128 pips

Our pivot point is at 97.01.

Our preference

Rebound towards 98.85.

Alternative scenario

Below 97.01, expect 96.34 and 95.93.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (97.54) but under its 50 period moving average (97.84).

Supports and resistances

99.65 **

99.25 *

98.85 **

98.44

97.57 last

97.28

97.01 **

96.34 *

95.93 **

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