AUD/JPY may rise 71 - 106 pips

Our pivot point is at 100.77.

Our preference

Rebound towards 102.38.

Alternative scenario

The downside breakout of 100.77 would call for 100.18 and 99.83.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (101.27) but below its 50 period moving average (101.41).

Supports and resistances

103.09 **

102.74 *

102.38 **

102.03

101.32 last

101.00

100.77 **

100.18 *

99.83 **

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