AUD/JPY may rise 75 - 111 pips

Our pivot point stands at 99.96.

Our preference

Rebound towards 101.57.

Alternative scenario

The downside breakout of 99.96 would call for 99.35 and 98.99.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (100.44) but below its 50 period moving average (100.63).

Supports and resistances

102.29 **

101.93 *

101.57 **

101.21

100.46 last

100.20

99.96 **

99.35 *

98.99 **

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