AUD/JPY intraday: target 96.94
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Our pivot point stands at 97.77.
Our preference: target 96.94.
Alternative scenario: the upside breakout of 97.77, would call for 98.08 and 98.26.
Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (97.56) but above its 50 period moving average (97.49).
Supports and resistances:
98.26 **
98.08 *
97.77 **
97.65
97.51 last
97.12
96.94 **
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