AUD/JPY may rise 84 - 123 pips

Our pivot point stands at 97.25.

Our preference

Rebound towards 99.00.

Alternative scenario

Below 97.25, expect 96.58 and 96.19.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 97.84 and 97.98).

Supports and resistances

99.79 **

99.39 *

99.00 **

98.61

97.77 last

97.51

97.25 **

96.58 *

96.19 **

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