- AUD/JPY struggles around 78.60 during early Wednesday.
- The sustained trading beneath 79.00 signal brighter chances of the quote’s further declines towards a week-long ascending trend-line support, at 78.40.
- However, short-term symmetrical triangle formation could play its role then after.
- Given the bears refrain from respecting 78.40, 77.90 and 77.70 could offer intermediate halts ahead of highlight February month low near 77.40.
- Alternatively, pair’s break of 79.00 can confront 79.40 resistance-line, also including a 100-day simple moving average (SMA) on the daily chart.
- Should prices manage to surpass 79.40, 79.85, 80.00 and 200-day SMA figure of 80.40 could entertain buyers.
AUD/JPY 4-Hour chart
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