AUD/JPY may rise 83 - 123 pips

97.26 is our pivot point.

Our preference

As long as 97.26 is support look for 99.07.

Alternative scenario

The downside breakout of 97.26 would call for 96.58 and 96.18.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 97.83 and 97.71).

Supports and resistances

99.88 **

99.48 *

99.07 **

98.67

97.84 last

97.53

97.26 **

96.58 *

96.18 **

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