FxWirePro: AUD/JPY holds major trendline support at 85.40, go short on break below

• Yen rebounds across the board after upbeat data. 
   
• Data released earlier on Thursday showed robust bank lending, current account figures in Japan which fuelled further downside in the pair.
   
• Japan’s November current account NSA decreased to 1415.5 bln JPY (forecast 1500.0 bln jpy) vs previous 1719.9 bln JPY, while December bank lending y/y increased to 2.6 % vs previous 2.4 %
   
• Techs have turned bearish on intraday charts.
   
• AUD/JPY is currently holding major trendline support at 85.40.
   
• Break below likely to see test of 200-SMA at 85.18.
   
• Support levels -  85.46 (5-DMA), 85.40 (trendline), 85.18 (1H 200-SMA), 84.89 (20-DMA)
   
• Resistance levels -  85.74 (1H 20-SMA), 86.09 (Jan 11 high), 86.59 (Dec 13 high)

Recommendation: Good to go short on break below 85.40, SL: 86, TP: 85.18/ 84.90/ 84.55