AUD/JPY may rise 68 - 102 pips

Our pivot point stands at 99.69.

Our preference

The upside prevails as long as 99.69 is support.

Alternative scenario

The downside breakout of 99.69 would call for 99.12 and 98.78.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 100.04 and 99.88).

Supports and resistances

101.83 **

101.49 *

101.16 **

100.82

100.14 last

99.91

99.69 **

99.12 *

98.78 **

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