FxWirePro: AUD/JPY rejected at strong trendline resistance, good to sell rallies

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