AUD/JPY traded at 98.04 on Monday, showing a slight bullish bias with a 0.12% gain. While recent buying momentum has eased, technical indicators suggest a cautious bullish outlook.
On the daily chart, the Relative Strength Index (RSI) remains in positive territory, indicating short-term bullish sentiment despite recent moderation. The Moving Average Convergence Divergence (MACD) histogram shows flat red bars, suggesting a slight pullback from stronger bullish momentum.
The hourly chart presents a similar picture. While the RSI remains positive and the MACD shows waning bearish momentum, both indicators suggest a more neutral short-term outlook with flattening momentum.
Overall, despite mixed recent trends, AUD/JPY maintains a bullish bias, supported by the pair’s position above the 20, 100, and 200-day Simple Moving Averages (SMAs), indicating longer-term buyer dominance.
