AUD/JPY may rise to 108.14 - 109.90

Our pivot point stands at 101.08.

Our preference

As long as 101.08 is support look for 109.90.

Alternative scenario

Below 101.08, expect 98.16 and 96.42.

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 (103.77) but above its 50 period moving average (101.61).

Supports and resistances

113.42 **

111.66 *

109.90 **

108.14

103.38 last

102.22

101.08 **

98.16 *

96.42 **

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