The daily RSI for the AUD/JPY demonstrates a modest uptrend, maintaining above the middle ground.
The Hourly chart reveals mixed sentiment, with frequent RSI changes and negative momentum portrayed by the MACD bars.
The 20-day SMA at 99.30 is the main target for the bulls.
The AUD/JPY showed a stronger stance by posting a gain of 0.27% and settling at 99.24 in Wednesday’s session. Despite the recent downside, the pair indicates a dominant bullish outlook, firmly standing above the key Simple Moving Averages (SMAs). However, the recent dip below the 20-day SMA brightened the outlook for the bears for the short term.
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