AUD/JPY may rise 70 - 105 pips

100.11 is our pivot point.

Our preference

The upside prevails as long as 100.11 is support.

Alternative scenario

The downside breakout of 100.11 would call for 99.52 and 99.17.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 100.38 and 100.28). Finally, the AUD/JPY is trading above its upper Bollinger band (standing at 100.61).

Supports and resistances

102.44 **

102.09 *

101.74 **

101.39

100.69 last

100.34

100.11 **

99.52 *

99.17 **

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