AUD/JPY may rise 49 - 73 pips

Our pivot point stands at 105.09.

Our preference

The upside prevails as long as 105.09 is support.

Alternative scenario

The downside breakout of 105.09 would call for 104.68 and 104.44.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 105.40 and 105.32).

Supports and resistances

106.68 **

106.44 *

106.20 **

105.96

105.47 last

105.25

105.09 **

104.68 *

104.44 **

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