AUD/JPY may fall 78 - 117 pips

Our pivot point stands at 95.71.

Our preference

Under pressure below 95.71.

Alternative scenario

The upside breakout of 95.71, would call for 96.36 and 96.75.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 95.36 and 95.30).

Supports and resistances

96.75 **

96.36 *

95.71 **

95.46

95.20 last

94.42

94.03 **

93.64 *

93.26 **

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