AUD/JPY may rise 45 - 66 pips

Our pivot point stands at 106.61.

Our preference

The upside prevails as long as 106.61 is support.

Alternative scenario

The downside breakout of 106.61 would call for 106.26 and 106.05.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 106.76 and 106.82).

Supports and resistances

108.03 **

107.82 *

107.61 **

107.40

106.95 last

106.75

106.61 **

106.26 *

106.05 **

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