We have been short in the pair since 84 levels (http://www.econotimes.com/FxWirePro-Sell-AUD-JPY-rallies-around-84-tests-of-8195-likely-156477).
- All targets on the call have been met, we still see scope for further downside.
- Technicals show no respite for bulls, momentum still with the bears, tests of 79.21 likely.
- The pair is currently trading at 80.67, with next supports at 80.09 (Jan 21st low) and then 79.21 (Jan 20th low).
Recommendation: Hold for further downside, lower trailing stops to 81.14, TP: 80.10/79.25