AUD/JPY may rise 80 - 119 pips

97.39 is our pivot point.

Our preference

As long as 97.39 is support look for 99.10.

Alternative scenario

Below 97.39, expect 96.73 and 96.34.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (97.99) but above its 50 period moving average (97.59).

Supports and resistances

99.89 **

99.49 *

99.10 **

98.71

97.91 last

97.65

97.39 **

96.73 *

96.34 **

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