AUD/JPY may rise to 105.91 - 108.34

Our pivot point is at 96.97.

Our preference

The upside prevails as long as 96.97 is support.

Alternative scenario

The downside breakout of 96.97 would call for 92.91 and 90.50.

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 99.55 and 98.10).

Supports and resistances

113.21 **

110.78 *

108.34 **

105.91

100.80 last

98.56

96.97 **

92.91 *

90.50 **

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