FxWirePro: AUD/JPY fails to hold above 77 handle, bias lower

• AUD/JPY fails to hold above 77 handle, slips lower to currently trade around 76.68 levels.
   
• Intraday bias is lower, JPY bulls back in control, allowing the Japanese yen to regain yesterday’s upbeat momentum.
   
• Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-breaks-below-21-DMA-good-to-go-short-on-rallies-242106) has achieved all targets.
   
• We see scope for test of 75.93 (7 July lows), violation there could see test of 75.59 (16 June low).
   
• Bearish invalidation only above 78.23 (50-DMA).
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Recommendation: Book partial profits, lower stops to 77.50, target 76/ 75.60