AUD/JPY may rise 78 - 117 pips

Our pivot point stands at 94.68.

Our preference

As long as 94.68 is support look for 96.46.

Alternative scenario

The downside breakout of 94.68 would call for 94.03 and 93.64.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (95.32) but above its 50 period moving average (94.94).

Supports and resistances

97.23 **

96.84 *

96.46 **

96.07

95.29 last

94.93

94.68 **

94.03 *

93.64 **

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