AUD/JPY Price Analysis: Bears take control as pair slips below 20-day SMA
|- AUD/JPY declines by 0.42% to 96.30 on Monday, extending its recent losing streak.
- RSI drops to negative territory, signaling increasing bearish pressure.
- The breach of the 20-day SMA confirms a shift in sentiment, putting sellers in control.
AUD/JPY continued its downward movement on Monday, losing 0.42% to settle around 96.30. The break below the 20-day Simple Moving Average (SMA) reinforces the weakening trend, as buyers struggle to regain momentum. The pair has now given up most of its recent gains, with sellers gaining traction.
Momentum indicators paint a bearish picture. The Relative Strength Index (RSI) has fallen sharply to 48, reflecting increased downside pressure, while the Moving Average Convergence Divergence (MACD) histogram shows decreasing green bars, suggesting that bullish attempts are fading. The pair’s inability to hold above the 20-day SMA indicates that selling momentum could intensify.
If the downward trend persists, the next key support lies around 96.00, followed by 95.50. On the upside, buyers would need to push AUD/JPY back above the 20-day SMA near 96.60 to regain short-term control and shift sentiment toward a more neutral stance.
AUD/JPY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.