The AUD/JPY is trading at 98.50, falling by 0.25% during Monday's session.
Daily RSI for the AUD/JPY oscillates in the positive zone with a slight shift towards the sellers.
On the hourly scale, the RSI settles in negative territory, signaling a short-term bearish correction.
Indicators are consolidating the gains that took the pair to multi-year highs.
The AUD/JPY is currently trading at 98.50, with a slight dip of 0.25%. Based on the mix of indicators, the pair has a predominantly bullish bearing, although there are mild bearish hints on the shorter time frames. In that sense, the downward movements can be seen as a mere technical correction of the pair needed to consolidate the gains that took it to highs since 2015.
On the daily chart, considering the recent Relative Strength Index (RSI) values, the index shows a slight decline, implying a minor shift in favor of the sellers near the overbought zone. Nonetheless, the positioning in the above half domain indicates that buyers still exercise control. Turning to the daily Moving Average Convergence Divergence (MACD), the histogram's decreasing green bars signal fading positive momentum. Despite this deceleration, the positive color implies that the bulls may still have some fuel to counterattack the bearish pulls
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