AUD/JPY - This 1.5 year long falling trendline is capping gains

Despite having breached a key resistance level of 79.00 last week, the pair is having a tough time rallying. On the daily chart, the 200-DMA is positioned at around 80.15 levels.

However, it is the falling trend line drawn from May 2015 high and Nov 2015 high that is acting as a strong resistance. If breached, the cross could run into another falling trend line resistance seen around 81.90 levels.