AUD/JPY is trading near 80.40 during early Thursday. A week-long horizontal-line and a downward sloping trend-line joining recent highs together indicate 80.45/50 as a near-term strong resistance for the quote.
During the pair’s decline, an ascending support-line stretched since April 10, at 80.10, could limit immediate downturn while a break of which may need extended dip beneath 80.00 to validate the selling pressure towards 79.85 and 79.60.
Should there be additional south-run past-79.60, 79.40, 79.20 and 79.00 could entertain bears.
Meanwhile, an upside clearance of 80.50 can recall 80.60 and 80.70 on the chart with 61.8% Fibonacci expansion (FE) at 80.85 acting as follow-on resistance.
In a case where prices rally beyond 80.85, 81.50 and mid-December 2018 top near 82.20 can please the Bulls.
AUD/JPY 30-Minutes chart
Trend: Pullback expected
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