- AUD/JPY edges higher from session lows at 78.98, currently, hovers around 20-DMA at 79.20.
- 'Shooting star' formation seen on AUD/JPY daily charts, close below 20-DMA to see drag lower.
- Techs support downside in the pair, Stochs and RSI are biased lower, bearish MACD line crossover on signal line seen.
- Major support levels - 78.98 (session lows), 78.72 (Oct 21 low), 78.10 (50-DMA)
- Major resistance levels - 79.60 (5-DMA), 80.04 (200-DMA), 80.31 (Oct 26 high)
Recommendation: Short breakout below 20-DMA at 0.79.20, SL: 80, TP: 78.75/ 78.10/ 77.75
