AUD/JPY is a pair I am continuously changing my bias on. During last week my bias was long as the weekly candle looked to close creating a new higher high however as the week came to a close price pulled back and closed below our key level of 83. Looking at the bigger picture we completed at 50% fibonacci play on the weekly - this level also confluences with a break and retest of the previous higher low level highlighted In blue. Zooming in on the daily we saw price close below and retest/reject the bullish Counter trend line. It looks as if price could not sustain above the 83.00 key level with many buyers probably exiting after the previous bullish rally allowing the sellers to move in and gain the ground. Anyway my longer term bas for the pair is a short back to the monthly key level of 78.000.