AUD/JPY may rise 83 - 123 pips

Our pivot point is at 97.64.

Our preference

As long as 97.64 is support look for 99.42.

Alternative scenario

Below 97.64, expect 96.97 and 96.57.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (98.21) but above its 50 period moving average (97.97).

Supports and resistances

100.21 **

99.81 *

99.42 **

99.02

98.19 last

97.90

97.64 **

96.97 *

96.57 **

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