AUD/JPY may rise to 108.11 - 109.77

Our pivot point is at 101.84.

Our preference

As long as 101.84 is support look for 109.77.

Alternative scenario

The downside breakout of 101.84 would call for 99.07 and 97.42.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 104.02 and 101.91).

Supports and resistances

113.10 **

111.43 *

109.77 **

108.11

104.64 last

102.93

101.84 **

99.07 *

97.42 **

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