AUD/JPY may fall 50 - 74 pips

104.25 is our pivot point.

Our preference

Eye 103.19.

Alternative scenario

The upside breakout of 104.25, would call for 104.64 and 104.87.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (104.02) but above its 50 period moving average (103.92).

Supports and resistances

104.87 **

104.64 *

104.25 **

104.09

103.93 last

103.43

103.19 **

102.96 *

102.73 **

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