AUD/JPY may rise 74 - 108 pips

Our pivot point stands at 99.43.

Our preference

As long as 99.43 is support look for 100.97.

Alternative scenario

Below 99.43, expect 98.86 and 98.51.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (99.91) but above its 50 period moving average (99.75).

Supports and resistances

101.66 **

101.32 *

100.97 **

100.63

99.89 last

99.66

99.43 **

98.86 *

98.51 **

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