FxWirePro: AUD/JPY struggles at trendline resistance at 83.15, break below 5-DMA could see weakness

• AUD/JPY trades a narrow range, the pair is struggling to take out major trendline resistance at 83.15.
   
• The pair is currently trading below the 83 handle and any break below 5-DMA aupport at 82.81 will see further drag.
   
• Upside finds series of stiff resistance upto 83.20 levels and only break above could see further upside.
   
• Technical studies are neutral, close below 5-DMA at 82.76 could see downside upto 81.80 (trendline).
   
• On the flipside, decisive break above 83.20 could see test of 83.63 (cloud base).
   
• Violation at cloud base could see test of 84.04 (38.2% Fib of 88.17 to 81.48 fall).

Support levels - 82.87 (20-DMA), 82.81 (5-DMA), 81.80 (trendline)

Resistance levels - 83.09 (200-DMA and 23.6% Fib), 83.61 (cloud base), 84.04 (38.2% Fib)

Recommendation: Watch out for break below 5-DMA to go short.