AUD/JPY may fall 50 - 74 pips

Our pivot point stands at 105.92.

Our preference

The downside prevails as long as 105.92 is resistance.

Alternative scenario

Above 105.92, look for 106.33 and 106.57.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 105.84 and 105.76). Finally, the AUD/JPY is trading below its lower Bollinger band (standing at 105.60).

Supports and resistances

106.57 **

106.33 *

105.92 **

105.76

105.57 last

105.07

104.83 **

104.59 *

104.35 **

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