FxWirePro: AUD/JPY retakes 79 handle, intraday bias lower

• AUD/JPY edges higher from session low at 78.97 and is currently trading above 79 handle.
   
• Growing speculation of an RBA rate cut in August weighing on AU yields, denting Aussie.
   
• On the other hand, markets continued to square off Yen shorts on falling prospects of helicopter money in Japan.
   
• Technicals support downside in the pair, stochs and RSI are biased lower, intraday bias lower.
   
• The pair is trading a rising triangle pattern, finds strong support at 78 levels. Violation there could see downside upto 74.55.
   
• Resistance on the flipside is seen at 79.48 (10-DMA), 79.69 (5-DMA) and 80.07 (20 July high).
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Recommendation: Good to sell rallies around 79.20, SL: 79.75, TP: 78.50/ 78