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.
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.
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