AUD/JPY may rise 61 - 88 pips

Our pivot point stands at 100.15.

Our preference

Our next up target stands at 101.51.

Alternative scenario

The downside breakout of 100.15 would call for 99.70 and 99.43.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 100.44 and 100.52).

Supports and resistances

102.05 **

101.78 *

101.51 **

101.24

100.63 last

100.32

100.15 **

99.70 *

99.43 **

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