AUD/JPY may fall 43 - 64 pips

107.07 is our pivot point.

Our preference

The downside prevails as long as 107.07 is resistance.

Alternative scenario

Above 107.07, look for 107.42 and 107.63.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 106.82 and 106.78). Finally, the AUD/JPY has penetrated its lower Bollinger band (106.66).

Supports and resistances

107.63 **

107.42 *

107.07 **

106.93

106.65 last

106.22

106.01 **

105.81 *

105.60 **

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