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AUDJPY Bears Poised: Sell Rallies at 111.55 for 108 Target with 112.20 Stop 
- AUD/JPY upside stalls at 200-DMA, edges lower from highs of 80.31 on Wednesday's trade.
- Price action shows divergence from RSI, scope for some correction lower.
- Technical indicators on 4 hourly charts support downside, Stochs and RSI are biased lower. MACD has shown a bearish crossover.
- Further upside only on break above 200-DMA resistance, test 81.50 levels then likely.
- On the flipside, break below 20-DMA at 79 could see drag upto 77.45 (rising trendline).
- Major support levels - 79.53 (5-DMA), 78.92 (20-DMA), 78.72 (Oct 21 low)
- Major resistance levels - 80.11 (200-DMA), 80.79 (June 1 high), 81, 81.50 (trendline)
Recommendation: Good to go short on rallies around 79.90/80, SL: 80.40, TP: 79.20/ 79
