AUD/JPY may fall 46 - 67 pips

Our pivot point is at 107.02.

Our preference

The downside prevails as long as 107.02 is resistance.

Alternative scenario

The upside breakout of 107.02, would call for 107.37 and 107.58.

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 106.81 and 106.86).

Supports and resistances

107.58 **

107.37 *

107.02 **

106.88

106.69 last

106.23

106.02 **

105.81 *

105.60 **

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