AUD/JPY may rise 52 - 76 pips

Our pivot point is at 105.31.

Our preference

The upside prevails as long as 105.31 is support.

Alternative scenario

Below 105.31, expect 104.90 and 104.66.

Comment

The RSI is above its neutrality area at 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 105.52 and 105.42).

Supports and resistances

106.89 **

106.64 *

106.40 **

106.16

105.64 last

105.47

105.31 **

104.90 *

104.66 **

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