AUD/JPY may rise 75 - 110 pips

100.46 is our pivot point.

Our preference

As long as 100.46 is support look for 102.05.

Alternative scenario

The downside breakout of 100.46 would call for 99.87 and 99.52.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 100.93 and 100.79).

Supports and resistances

102.75 **

102.40 *

102.05 **

101.70

100.95 last

100.70

100.46 **

99.87 *

99.52 **

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