AUD/JPY intraday: the downside prevails as long as 107.05 is resistance
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Our pivot point is at 107.05.
Our preference: the downside prevails as long as 107.05 is resistance.
Alternative scenario: the upside breakout of 107.05, would call for 107.35 and 107.53.
Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 106.94 and 107.02).
Supports and resistances:
107.53 **
107.35 *
107.05 **
106.93
106.73 last
106.37
106.19 **
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