AUD/JPY may fall 53 - 77 pips

Our pivot point is at 106.03.

Our preference

The downside prevails as long as 106.03 is resistance.

Alternative scenario

Above 106.03, look for 106.44 and 106.68.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 105.82 and 105.77).

Supports and resistances

106.68 **

106.44 *

106.03 **

105.87

105.70 last

105.17

104.93 **

104.69 *

104.44 **

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