FxWirePro: Price divergence on AUD/JPY dailies, good to short rallies

• AUD/JPY upside stalls at 200-DMA, edges lower from highs of 80.31 on Wednesday's trade.
   
• Price action shows divergence from RSI, scope for some correction lower.
   
• Technical indicators on 4 hourly charts support downside, Stochs and RSI are biased lower. MACD has shown a bearish crossover.
   
• Further upside only on break above 200-DMA resistance, test 81.50 levels then likely.
   
• On the flipside, break below 20-DMA at 79 could see drag upto 77.45 (rising trendline).
   
• Major support levels - 79.53 (5-DMA), 78.92 (20-DMA), 78.72 (Oct 21 low)
   
• Major resistance levels - 80.11 (200-DMA), 80.79 (June 1 high), 81, 81.50 (trendline)

Recommendation: Good to go short on rallies around 79.90/80, SL: 80.40, TP: 79.20/ 79