AUD/JPY may fall 68 - 102 pips

Our pivot point is at 100.76.

Our preference

Target 99.28.

Alternative scenario

Above 100.76, look for 101.33 and 101.66.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (100.31) but above its 50 period moving average (100.26).

Supports and resistances

101.66 **

101.33 *

100.76 **

100.53

100.30 last

99.62

99.28 **

98.95 *

98.61 **

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