AUD/JPY may rise to 105.47 - 107.83

Our pivot point is at 96.85.

Our preference

The upside prevails as long as 96.85 is support.

Alternative scenario

Below 96.85, expect 92.93 and 90.59.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 98.57 and 98.25).

Supports and resistances

112.54 **

110.18 *

107.83 **

105.47

100.05 last

98.40

96.85 **

92.93 *

90.59 **

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