AUD/JPY may fall 72 - 107 pips

Our pivot point is at 101.20.

Our preference

The downside prevails as long as 101.20 is resistance.

Alternative scenario

The upside breakout of 101.20, would call for 101.79 and 102.14.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 100.96 and 101.14).

Supports and resistances

102.14 **

101.79 *

101.20 **

100.97

100.63 last

99.91

99.56 **

99.21 *

98.86 **

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