AUD/JPY may rise 53 - 78 pips

Our pivot point stands at 102.60.

Our preference

Rebound towards 103.72.

Alternative scenario

Below 102.60, expect 102.18 and 101.93.

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 above its 20 period moving average (102.90) but below its 50 period moving average (103.46).

Supports and resistances

104.22 **

103.97 *

103.72 **

103.47

102.94 last

102.76

102.60 **

102.18 *

101.93 **

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