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FxWirePro: AUD/JPY faces strong trend line resistance around 86.35, good to sell on rallies

  • AUD/JPY has recovered till 86.11 yesterday and started to retreat from that level.  Overall trend is still weak as long as trend line resistance 86.35 holds.

  • On the downside minor trend line support is around 85.70 and any break below will drag the pair further down till 84.80/84.60 in short term.

  • Short term weakness only below 84.60.

  • The pair's major resistance is around 86.35 and break above would extend gains till 87.25.

It is good to sell on rallies around 85.80-85 with SL around 86.35 for the TP of 84.80

 

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