AUD/JPY may rise 51 - 76 pips

Our pivot point stands at 105.61.

Our preference

As long as 105.61 is support look for 106.78.

Alternative scenario

Below 105.61, expect 105.20 and 104.96.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (106.02) but above its 50 period moving average (105.91).

Supports and resistances

107.26 **

107.02 *

106.78 **

106.53

106.02 last

105.77

105.61 **

105.20 *

104.96 **

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