AUD/JPY struggles at cloud support (82.90), short breaks below

AUD/JPY broke rising trendline support at 84 on Tuesday's trade, downside is being capped by daily cloud which is strong support.

Pair struggles to breach cloud top currently at 82.90, we see scope for further downside only on a decisive close below.

Immediate support and resistance are located at 82.90(cloud top) and 83.67 (Mar 6th highs) respectively.

Technicals are supportive of downside in the pair, momentum studies are bearish.

Good to short breaks below 82.90, SL: 83.70, TP: 82.20/82/81.50

Trade closed: target reached