AUD/JPY may fall 71 - 105 pips

Our pivot point stands at 100.99.

Our preference

Target 99.42.

Alternative scenario

The upside breakout of 100.99, would call for 101.57 and 101.92.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (100.66) but above its 50 period moving average (100.43).

Supports and resistances

101.92 **

101.57 *

100.99 **

100.77

100.47 last

99.76

99.42 **

99.08 *

98.73 **

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