AUD/JPY may fall 52 - 77 pips

104.06 is our pivot point.

Our preference

Under pressure below 104.06.

Alternative scenario

Above 104.06, look for 104.49 and 104.74.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 103.80 and 103.76).

Supports and resistances

104.74 **

104.49 *

104.06 **

103.90

103.67 last

103.15

102.90 **

102.65 *

102.40 **

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