AUD/JPY intraday: the downside prevails as long as 73.71 is resistance
Our pivot point stands at 73.71.
Comment:
the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 73.56 and 73.59).
Alternative scenario:
the upside breakout of 73.71, would call for 73.93 and 74.06.
Our preference:
the downside prevails as long as 73.71 is resistance.