AUD/JPY may fall 81 - 120 pips

Our pivot point stands at 98.56.

Our preference

The downside prevails as long as 98.56 is resistance.

Alternative scenario

Above 98.56, look for 99.23 and 99.62.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 98.03 and 97.97).

Supports and resistances

99.62 **

99.23 *

98.56 **

98.30

97.94 last

97.13

96.74 **

96.34 *

95.95 **

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