FxWirePro: AUD/JPY finds major trendline support at 85.55, good to go short on break below

• AUD/JPY is holding above major trendline support at 85.55, break below required for downside.
   
• Momentum studies are neutral, RSI holds above 50 level.
   
• Japan PM Adviser Honda’s jawboning the currency continues to weigh on the Japanese yen.
   
• Aussie extends its choppiness into mid-Asia as falling Chinese industrial profits dampen the sentiment around the Antipodean. China is Australia’s biggest trading partner.
   
• Next support seen at 84.85 (50-DMA), violation there likely to see drag till 83.75.
   
• Support levels - 85.55 (trendline), 85.0 (Jan 17 low), 84.94 (50-DMA), 83.74 (Dec 29 low).
   
• Resistance levels - 86.0 (5-DMA), 86.28 (Jan 13 high), 87 (trendline).
   

Recommendation: Good to go short on close below 85.50, SL: 86.10, TP: 84.84/ 84/ 83.74
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FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 8.44068 (Neutral), while Hourly JPY Spot Index was at 11.688 (Neutral) at 0625 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.