AUD/JPY may rise 43 - 64 pips

106.89 is our pivot point.

Our preference

As long as 106.89 is support look for 107.87.

Alternative scenario

The downside breakout of 106.89 would call for 106.54 and 106.33.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 107.14 and 106.93).

Supports and resistances

108.29 **

108.08 *

107.87 **

107.66

107.23 last

107.03

106.89 **

106.54 *

106.33 **

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