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AUD/JPY Price Analysis: Bullish sentiment persists, indicators point to weak momentum

  • The AUD/JPY pair is trading at 98.04, up 0.12% during Monday's session.
  • The RSI on both the daily and hourly charts is in the positive zone, but the momentum is limited.
  • The overall trend remains bullish as buyers reclaimed the 20-day SMA.

In Monday's session, the AUD/JPY pair is trading at 98.04, reflecting a rise of 0.12%. Despite a slight decline in buying momentum, there is an overall moderate bullish sentiment dominating the market as indicators appear to be recovering after recent declines.

On the daily chart, the AUD/JPY relative strength index (RSI) is in positive territory, indicating that buyers have had the upper hand recently after falling below 50. Despite slight declines in Latest readings, there is still moderate bullish momentum. The moving average convergence divergence (MACD) histogram shows flat red bars, suggesting a loss of positive momentum but still slightly bullish sentiment in the market.

AUD/JPY daily chart

Turning to the hourly chart, the RSI values ​​present a similar picture, hovering in positive territory, and the MACD histogram continues with decreasing red bars, indicating a loss of selling momentum but a flattened buying traction. These readings imply that the pair is experiencing similar short-term dynamics.

AUD/JPY hourly chart

When contrasting the daily and hourly charts, the indicators suggest a constant bullish momentum, although with less intensity. Despite the neutral to negative near-term outlook, the pair's position above the 20-day, 100-day, and 200-day SMA reinforces the view that buyers are in control in the broader market view. .

AUD/JPY

Overview
Latest price today 98.06
Today Daily change 0.01
Today Daily Change % 0.01
Today daily opening 98.05
Trends
SMA20 daily 97.75
50 daily SMA 97.27
SMA100 daily 96.86
SMA200 Journal 95.74
Levels
Previous daily high 98.08
Previous daily low 97.41
Previous weekly high 98.84
Previous weekly low 97.34
Previous Monthly High 99.06
Previous monthly low 95.5
Daily Fibonacci 38.2 97.83
Fibonacci 61.8% daily 97.67
Daily Pivot Point S1 97.61
Daily Pivot Point S2 97.18
Daily Pivot Point S3 96.94
Daily Pivot Point R1 98.29
Daily Pivot Point R2 98.52
Daily Pivot Point R3 98.96

Source: Fx Street

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