AUD/JPY may fall 70 - 104 pips

Our pivot point stands at 101.14.

Our preference

The downside prevails as long as 101.14 is resistance.

Alternative scenario

Above 101.14, look for 101.72 and 102.06.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 100.66 and 100.62). Finally, the AUD/JPY is trading below its lower Bollinger band (standing at 100.54).

Supports and resistances

102.06 **

101.72 *

101.14 **

100.91

100.51 last

99.81

99.47 **

99.12 *

98.78 **

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