AUD/JPY Price Analysis: Bears in control, eye daily extension

• AUD/JPY bears are in control and eye a downside daily extension.
• The price has been met with supply following a significant correction. 

AUD/JPY is moving to the downside following a 50% mean reversion of the prior bullish daily impulse. 

The following illustrates the bearish bias. 

AUD/JPY daily chart

The price is in a bearish trend and given the recent correction that has started to run out of momentum, there are prospects of a continuation to the downside.