AUD/JPY may rise 74 - 108 pips

99.93 is our pivot point.

Our preference

As long as 99.93 is support look for 101.65.

Alternative scenario

The downside breakout of 99.93 would call for 99.36 and 99.02.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (100.58) but above its 50 period moving average (100.50).

Supports and resistances

102.32 **

101.99 *

101.65 **

101.31

100.57 last

100.15

99.93 **

99.36 *

99.02 **

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