AUD/JPY technical analysis: Failure to sustain 3-week long trend-line break highlights nearby support-line

• Inability to hold trend-line break triggers a fresh pullback.
• Immediate support-line grabs the spotlight for now.

AUD/JPY falls short of holing recent uptick beyond short-term resistance-line as it slips back into the upside barrier to 75.86 during the early Asian session on Monday.

As a result, 23.6% Fibonacci retracement of May-June decline at 75.70 seems the closest support that the quote can avail whereas a week-long ascending trend-line at 75.41 could restrict further downpour.

In a case where sellers refrain from respecting 75.40 rest-point, the current month low around 75.00 should be on their radar.

Meanwhile sustained a break of May 20 high around 76.40 becomes necessary for the pair to aim for 200-bar moving average (4H 200MA) at 76.54.

Also playing the role of resistance could be 61.8% Fibonacci retracement level of 76.87 and May 10 top surrounding 77.20.

AUD/JPY 4-Hour chart

Trend: Pullback expected