AUD/JPY may rise 45 - 66 pips

Our pivot point is at 103.93.

Our preference

The upside prevails as long as 103.93 is support.

Alternative scenario

Below 103.93, expect 103.56 and 103.35.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 104.13 and 104.06).

Supports and resistances

105.34 **

105.12 *

104.90 **

104.69

104.24 last

104.07

103.93 **

103.56 *

103.35 **

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