AUD/JPY intraday: look for a drop towards 100.37 before a bounce
Our pivot point stands at 100.37.
Our preference: look for a drop towards 100.37 before a bounce.
Alternative scenario: the downside breakout of 100.37 would call for 100.03 and 99.82.
Comment: the RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 100.66 and 100.61).
Supports and resistances:
101.77 **
101.57 *
101.36 **
101.16
100.68 last
100.50
100.37 **
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