AUD/JPY may rise 72 - 106 pips

Our pivot point stands at 99.30.

Our preference

Rebound towards 100.81.

Alternative scenario

The downside breakout of 99.30 would call for 98.73 and 98.40.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 99.78 and 99.82).

Supports and resistances

101.48 **

101.14 *

100.81 **

100.47

99.75 last

99.52

99.30 **

98.73 *

98.40 **

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