AUD/JPY may rise 64 - 96 pips.

AUD/JPY may rise 64 - 96 pips.

Our pivot point is at 111.40.

Our preference : Our next up target stands at 112.88 Alternative scenario Below 111.40, expect 110.87 and 110.55.

Comment : The RSI is above its neutrality area at 50.

The MACD is above its signal line and negative.

The MACD must break above its zero level to trigger further gains.

Moreover, the price is above its 20 and 50 period moving average (respectively at 111.79 and 111.87).

Finally, the AUD/JPY is trading above its upper Bollinger band (standing at 111.92).