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AUD/JPY rejected at strong trendline resistance, short rallies

FX:AUDJPY   Australian Dollar / Japanese Yen
174 0 4
AUD/JPY             was rejected at strong trendline resistance and currently trades at 79.17.

The pair recovered sharply from session lows struck at 78.65 in opening trades after dismal Chinese data over the weekend.

Upside however faces stiff resistance at 79.50 levels, recovery appears to lack momentum.

Intraday techs support downside, bearish invalidation only above 79.50.

Major support and resistance are located at 78.18 and 79.50 respectively.

Good to sell rallies around 79.20/25, SL: 79.55, TP: 79/78.80/78.60
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