Shooting star on AUD/JPY, short rallies, target 77.88 (100-DMA)

FX:AUDJPY   Australian Dollar / Japanese Yen
196 1 5
AUD/JPY             edges higher from session lows at 78.98, currently, hovers around 20-DMA at 79.20.

'Shooting star' formation seen on AUD/JPY             daily charts , close below 20-DMA to see drag lower.

Techs support downside in the pair, Stochs and RSI are biased lower, bearish MACD line crossover on signal line seen.

Major support levels - 78.98 (session lows), 78.72 (Oct 21 low), 78.37 (cloud top), 78.10 (50-DMA)

Major resistance levels - 79.60 (5-DMA), 80.04 ( 200-DMA             ), 80.31 (Oct 26 high)

The pair is currently holding minor support at 78.95, break below to see further drag.

Good to short rallies, target 77.90, stop loss 79.55

Nice idea! I saw this one too a few days ago.
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