FxWirePro: AUD/JPY weak on risk-off, slips below strong trendline support, good to sell rallies

• AUD/JPY under heavy selling pressure in Asia, dented by risk-off across markets.
   
• Selling in the Nikkei 225 which was down over 3%, (adding pressure on Yen crosses).
   
• The pair printed a day low of 85.78 and has since pared some losses to currently trade around 85.92.
   
• Downside has seen breach of strong trendline resistance at 85.98, price action below hourly cloud and 5-DMA support at 85.95.
   
• Stochs and RSI on daily charts are biased lower, price action on hourly converges with momentum indicators.
   
• Immediate resistance and supports are seen at 86.55 and 85.46 (10-DMA) respectively.
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Recommendation: Good to sell rallies around 85.90/86, SL: 86.55, TP: 85.60/85.35/85.20