AUD/JPY may fall 53 - 76 pips

104.46 is our pivot point.

Our preference

The downside prevails as long as 104.46 is resistance.

Alternative scenario

Above 104.46, look for 104.86 and 105.09.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 104.31 and 104.46).

Supports and resistances

105.09 **

104.86 *

104.46 **

104.31

104.13 last

103.60

103.37 **

103.14 *

102.90 **

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