AUD/JPY may fall 69 - 102 pips

Our pivot point stands at 100.74.

Our preference

The downside prevails as long as 100.74 is resistance.

Alternative scenario

The upside breakout of 100.74, would call for 101.30 and 101.64.

Comment

The RSI is below its neutrality area at 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 100.46 and 100.53).

Supports and resistances

101.64 **

101.30 *

100.74 **

100.51

100.23 last

99.54

99.21 **

98.87 *

98.53 **

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