AUD/JPY may rise 53 - 78 pips

Our pivot point stands at 102.46.

Our preference

Rebound towards 103.66.

Alternative scenario

The downside breakout of 102.46 would call for 102.04 and 101.79.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 102.89 and 103.69).

Supports and resistances

104.16 **

103.91 *

103.66 **

103.41

102.88 last

102.62

102.46 **

102.04 *

101.79 **

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