AUD/JPY may rise 81 - 120 pips

97.57 is our pivot point.

Our preference

The upside prevails as long as 97.57 is support.

Alternative scenario

Below 97.57, expect 96.90 and 96.50.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 98.03 and 97.99).

Supports and resistances

100.13 **

99.73 *

99.33 **

98.94

98.13 last

97.83

97.57 **

96.90 *

96.50 **

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