AUD/JPY Technical Analysis: Break of 79.35 on upbeat China Caixin PMI can recall 79.80-85

• AUD/JPY trades near 79.35 after the release of China’s Caixin Manufacturing PMI on early Friday.
• The February month private gauge of manufacturing purchasing managers’ index (PMI) came in at 49.9 versus 48.5 market forecast in February. The PMI registered 48.3 level in January.
• Should the pair sustains the 79.35 break, it can aim for 79.60 while 79.80-85 region including highs marked during the month can challenge buyers then after.
• During the pair’s rise above 79.85, 61.8% Fibonacci expansion (FE) of its early January – February moves at 81.00 could become Bulls’ favorite.
• On the flipside, a support-line joining lows of February 08 and 21 may limit the pair’s immediate declines at 78.70, a break of which can drag it to 78.25 and 78.00.
• If at all bears keep ruling the sentiment after 78.00. horizontal supports around 77.40 and 77.00 could gain market attention.

AUD/JPY 4-Hour chart