AUD/JPY may rise 45 - 66 pips

Our pivot point stands at 103.86.

Our preference

As long as 103.86 is support look for 104.90.

Alternative scenario

Below 103.86, expect 103.50 and 103.28.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (104.28) but above its 50 period moving average (104.14).

Supports and resistances

105.34 **

105.12 *

104.90 **

104.69

104.24 last

104.01

103.86 **

103.50 *

103.28 **

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