AUD/JPY may rise 56 - 80 pips

105.16 is our pivot point.

Our preference

The upside prevails as long as 105.16 is support.

Alternative scenario

Below 105.16, expect 104.75 and 104.51.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 105.44 and 105.35).

Supports and resistances

106.77 **

106.52 *

106.28 **

106.04

105.48 last

105.32

105.16 **

104.75 *

104.51 **

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