The hourly chart for AUD/JPY paints a different picture, showcasing mounting buying pressure.
The AUD/JPY pair is currently trading at 97.99, showcasing slight losses. The currency pair is experiencing a delicate dynamic between short-term buyers, who are starting to become more active, while on the daily chart, the outlook is mixed. However, the overall trend remains bullish as the pair hovers above key Simple Moving Averages (SMAs) of 20,100 and 200 days.
On the daily chart, the AUD/JPY pair is displaying a neutral momentum, underpinned by the Relative Strength Index (RSI) falling to negative territory this week. However, a slight increase was observed in the latest reading, suggesting a balanced market. Moreover, the fading red bars of the Moving Average Convergence Divergence (MACD) histogram indicate softening bearish momentum, casting doubt on the durability of the latest bearish move.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.