AUD/JPY may rise 81 - 119 pips

Our pivot point is at 94.56.

Our preference

The upside prevails as long as 94.56 is support.

Alternative scenario

Below 94.56, expect 93.92 and 93.53.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 94.96 and 94.86).

Supports and resistances

97.04 **

96.65 *

96.27 **

95.89

95.08 last

94.81

94.56 **

93.92 *

93.53 **

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