AUD/JPY has recently failed to extend a bullish breakout, and is now in a bearish breakout. Let's take a look at the chart.$AUDJPY Daily Chart(click to enlarge)Bearish Continuation:- First we should note that the prevailing trend has been bearish, though very choppy.- In fact, we have seen price attempt a bullish breakout a couple of times before, both failing and ending up in a bearish continuation swing.- We also saw a failed bullish breakout in April, and price is now breaking a consolidation support.- I think there is at least downside towards 76.- Now look at the weekly chart. - In a bearish continuation scenario, we can anticipate downside to 72.50 (below which is a critical support).AUD/JPY Weekly Chart(click to enlarge)