AUD/JPY intraday: the RSI is overbought
Our pivot point stands at 102.22.
Our preference: the upside prevails as long as 102.22 is support.
Alternative scenario: below 102.22, expect 101.87 and 101.67.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 101.90 and 101.59).
Supports and resistances:
103.55 **
103.34 *
103.13 **
102.93
102.51 last
102.36
102.22 **
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