AUD/JPY may rise 89 - 129 pips

97.64 is our pivot point.

Our preference

The upside prevails as long as 97.64 is support.

Alternative scenario

The downside breakout of 97.64 would call for 96.97 and 96.58.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 98.03 and 98.06).

Supports and resistances

100.25 **

99.86 *

99.46 **

99.06

98.17 last

97.90

97.64 **

96.97 *

96.58 **

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