AUD/JPY may rise 84 - 123 pips

Our pivot point is at 95.42.

Our preference

As long as 95.42 is support look for 97.19.

Alternative scenario

The downside breakout of 95.42 would call for 94.77 and 94.38.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 95.92 and 95.37).

Supports and resistances

97.96 **

97.57 *

97.19 **

96.80

95.96 last

95.67

95.42 **

94.77 *

94.38 **

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