FxWirePro: AUD/JPY finds major resistance at 78.11, go long on breakout above

• AUD/JPY edges higher after forming a double bottom at 76.50.
   
• Momentum studies are bullish, RSI biased higher and Stochs have rolled over from oversold levels.
   
• The pair finds major resistance at 78.11 (50-DMA) and trendline. 
   
• Break above could see gains upto 80.23 (100-DMA) and violation there could test trendline at 81.65.
   
• Immediate support is seen at 76.85 (trendline), weakness only below double bottom at 76.50.
   
• Violation there could see drag upto 75 levels.
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Recommendation: Good to go long on breakout above 78.11, SL: 76.85, TP: 78.70/ 79.50/ 80.25