AUD/JPY may rise 55 - 80 pips

Our pivot point is at 102.84.

Our preference

Rebound towards 104.00.

Alternative scenario

Below 102.84, expect 102.42 and 102.17.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 103.22 and 103.52).

Supports and resistances

104.51 **

104.25 *

104.00 **

103.75

103.20 last

103.01

102.84 **

102.42 *

102.17 **

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