- More than a week-long resistance limits the upside.
- 75.30/25 seems crucial downside support.
AUD/JPY continues to respect near-term descending resistance-line as it trades near 75.80 during early Thursday.
The quote has been trading under a downward sloping trend-line since May 21, which in-turn signal brighter chances of its pullback to 75.60 and 75.45 rest-points.
During the quote’s extended declines past-75.45, 75.30/25 area including lows marked so far since January 04 seems crucial to watch.
In a case where prices slip beneath 75.25, 75.00 and July 2016 low near 74.50/55 may arrive on the chart.
Meanwhile, an upside clearance of 75.90 could trigger fresh buying towards 76.20 and 76.40 numbers to the north.
It should also be noted that the pair’s rise beyond 76.40 enables it to target 77.00 round-figure.
AUD/JPY hourly chart
Trend: Pullback expected
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