• AUD/JPY has been rejected at session highs at 78.19, slips lower to currently trade at 77.69 levels.
   
• The pair has broken major trendline support at 78.93, and has slipped below 50-DMA at 78.34.
   
• Technical indicators support downside in the pair, Stochs point south while MACD shows a bearish crossover on signal line.
   
• A series of resistance align on the upside at 78.34 (50-DMA), 78.44 (20-DMA), 79.20 (trendline).
   
• On the flipside, break below 77.30 (June 21 low) opens downside to 75.67 (July 5 low) and then 74.55 (July 6 low).
   
• Markets await the RBA policy decision due tomorrow for fresh direction on the pair, with the central bank expected to keep rates steady.