AUD/JPY intraday: target 73.97
74.57 is our pivot point.
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 MA (74.44) but above its 50 MA (74.31).
Alternative scenario:
the upside breakout of 74.57, would call for 74.79 and 74.93.
Our preference:
target 73.97.
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