AUD/JPY may fall 78 - 113 pips

Our pivot point is at 100.34.

Our preference

Target 98.71.

Alternative scenario

The upside breakout of 100.34, would call for 100.91 and 101.26.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (99.93) but above its 50 period moving average (99.73).

Supports and resistances

101.26 **

100.91 *

100.34 **

100.11

99.84 last

99.06

98.71 **

98.37 *

98.03 **

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