AUD/JPY may rise 68 - 102 pips

Our pivot point stands at 99.36.

Our preference

Rebound towards 100.89.

Alternative scenario

The downside breakout of 99.36 would call for 98.80 and 98.46.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (99.86) but below its 50 period moving average (100.08).

Supports and resistances

101.56 **

101.23 *

100.89 **

100.55

99.87 last

99.58

99.36 **

98.80 *

98.46 **

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