AUD/JPY may rise 74 - 108 pips

Our pivot point stands at 99.85.

Our preference

The upside prevails as long as 99.85 is support.

Alternative scenario

The downside breakout of 99.85 would call for 99.28 and 98.94.

Comment

The RSI is above 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 100.23 and 100.25).

Supports and resistances

102.09 **

101.75 *

101.41 **

101.07

100.33 last

100.07

99.85 **

99.28 *

98.94 **

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