AUD/JPY may rise 81 - 119 pips

Our pivot point is at 93.88.

Our preference

Our next up target stands at 95.64.

Alternative scenario

The downside breakout of 93.88 would call for 93.24 and 92.85.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 94.26 and 94.34).

Supports and resistances

96.41 **

96.03 *

95.64 **

95.26

94.45 last

94.13

93.88 **

93.24 *

92.85 **

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