AUD/JPY may rise 83 - 122 pips

Our pivot point is at 94.43.

Our preference

The upside prevails as long as 94.43 is support.

Alternative scenario

The downside breakout of 94.43 would call for 93.79 and 93.40.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 94.73 and 94.48).

Supports and resistances

96.93 **

96.54 *

96.16 **

95.77

94.94 last

94.69

94.43 **

93.79 *

93.40 **

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