AUD/JPY may rise 60 - 85 pips

103.50 is our pivot point.

Our preference

The upside prevails as long as 103.50 is support.

Alternative scenario

Below 103.50, expect 103.07 and 102.82.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 103.77 and 103.72).

Supports and resistances

105.20 **

104.95 *

104.69 **

104.44

103.84 last

103.66

103.50 **

103.07 *

102.82 **

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