FxWirePro: AUD/JPY extends rebound from 4-year low at 77.51, finds major supports at 77.70, good to buy dips

• AUD/JPY is extending rebound from 4-year low of 77.51 (levels unseen since June 4th 2012) hit on Tuesday. 
   
• A renewed risk-on wave appears to grip the markets amid a minor pullback seen in the Asian equities, halting JPY upside.
   
• The pair has broken above trendline resistance and major psychological levels at 78 and finds major support on 4H charts at 77.90.
   
• 4H 10-SMA at 78.16 is immediate support on the downside, while next hurdle on the upside is seen at 78.56 (June 14th high).
   
• Techs on 4H charts support upside, Stochs have rolled over from oversold region and RSI is biased higher.
   
• We see a bullish MACD line crossover on the signal line. Upside till 79.17 (20-DMA) likely.
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Recommendation: Good to buy dips around 78.40, SL: 77.90, TP: 78.80/ 79/ 79.15