AUD/JPY may rise to 106.94 - 108.43

101.66 is our pivot point.

Our preference

As long as 101.66 is support look for 108.43.

Alternative scenario

The downside breakout of 101.66 would call for 99.15 and 97.66.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (103.92) but above its 50 period moving average (102.10).

Supports and resistances

111.42 **

109.93 *

108.43 **

106.94

103.90 last

102.64

101.66 **

99.15 *

97.66 **

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