AUD/JPY may rise 76 - 111 pips

100.98 is our pivot point.

Our preference

As long as 100.98 is support look for 102.64.

Alternative scenario

The downside breakout of 100.98 would call for 100.39 and 100.03.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (101.57) but above its 50 period moving average (101.26).

Supports and resistances

103.35 **

103.00 *

102.64 **

102.29

101.53 last

101.21

100.98 **

100.39 *

100.03 **

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