AUD/JPY may rise 77 - 112 pips

Our pivot point stands at 101.12.

Our preference

As long as 101.12 is support look for 102.72.

Alternative scenario

Below 101.12, expect 100.52 and 100.17.

Comment

The RSI is above its neutrality area at 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 101.46 and 101.13).

Supports and resistances

103.43 **

103.08 *

102.72 **

102.37

101.60 last

101.35

101.12 **

100.52 *

100.17 **

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