FxWirePro: AUD/JPY slips below 79 handle, good to short rallies

• AUD/JPY has broken major support at 79.17 and has fallen below the 79 handle to currently trade around 78.93 levels.
   
• Momentum studies are bearish, RSI and stochs are biased lower.
   
• Downside now sees next major support at 78.63, breaks below could see test of 78.30 (trendline).
   
• On the upside resistance is seen at 79.34 (4H 5 SMA), and then at 79.52 (4H 10 SMA).
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Recommendation: Sell rallies around 78.95, SL: 79.40, TP: 78.65/78.30