- AUD/JPY upside capped at 79 handle, pair is extending range trade since Oct 4th.
- 100-DMA is major support on the downside, break below to see further weakness.
- Technical indicators are mildly bearish, Stochs and RSI have turned south, while MACD is on the verge of a bearish crossover on signal line.
- Major support levels - 77.82 (100-DMA), 77.60 (20-DMA), 77.46 (50-DMA), 77, 76.85 (trendline)
- Major resistance levels - 78.35 (5-DMA), 79, 79.13 (Sept 6 high)
Recommendation: Good to short break below 77.80, SL: 78.35, TP: 77.50/ 76.85
