AUD/JPY may rise 74 - 108 pips

99.76 is our pivot point.

Our preference

As long as 99.76 is support look for 101.31.

Alternative scenario

Below 99.76, expect 99.18 and 98.84.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 100.18 and 100.04).

Supports and resistances

102.00 **

101.65 *

101.31 **

100.97

100.23 last

99.98

99.76 **

99.18 *

98.84 **

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