- AUD/JPY broke rising trendline support at 84 on Tuesday's trade, downside capped by daily cloud which is strong support.
- Pair struggles to breach cloud top currently at 82.90, we see scope for further downside only on a decisive close below.
- Immediate support and resistance are located at 82.90(cloud top) and 83.67 (Mar 6th highs) respectively.
- Technicals are supportive of downside in the pair, momentum studies are bearish.
Recommendation: Good to short breaks below 82.90, SL: 83.70, TP: 82.20/82/81.50
