AUD/JPY may fall 88 - 122 pips

Our pivot point stands at 100.27.

Our preference

The downside prevails as long as 100.27 is resistance.

Alternative scenario

Above 100.27, look for 100.84 and 101.18.

Comment

The RSI is below 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 99.84 and 99.91).

Supports and resistances

101.18 **

100.84 *

100.27 **

100.05

99.81 last

98.93

98.59 **

98.26 *

97.92 **

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