FxWirePro: Watch out for triangle breakout in AUD/JPY to go short, target 200-DMA at 85.17

• AUD/JPY capped below 50-DMA at 86.74, trades 0.40% lower at the time of writing, bias lower.
   
• The pair is trading in a 'Symmetric Triangle' pattern and triangle breakout will provide further direction.
   
• 20-DMA at 87.14 is stiff resistance on the upside, we see further gains only on break above.
   
• Price action has slipped into daily cloud, finds next immediate support at 86.15 (triangle base).
   
• Intraday bias is bearish, RSI weak below 50 levels, MACD supports trend lower. Bias on weekly charts is also bearish.

Support levels - 86.15 (triangle base), 85.17 (200-DMA), 84.45 (Aug 11 low)

Resistance levels - 86.39 (38.2% Fib retrace of 81.48 to 89.42 rally), 86.74 (50-DMA), 87.14 (20-DMA)

Recommendation: Watch out for triangle break out 86.15 to go short, SL: 86.75, TP: 85.20/ 85/ 84.50

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