AUD/JPY Price Analysis: Bullish sentiment persists, indicators point to weak momentum

The AUD/JPY is trading at 98.04, marking a 0.12% gain during Monday's session.
The RSI on both daily and hourly charts is in the positive zone, but momentum is limited.
The overall trend remains bullish as the buyers recovered the 20-day SMA.

Patricio Martín FXStreet

In Monday's session, the AUD/JPY pair is trading at 98.04, reflecting a 0.12% gain. Despite a slight decrease in buying momentum, there's an overall moderate bullish sentiment dominating the market as indicators seem to recover after recent declines.

On the daily chart, the AUD/JPY pair's Relative Strength Index (RSI) is currently in positive territory, indicating that buyers have had the edge recently after diving below 50. Despite slight decreases in the latest readings, there's still a moderate bullish momentum. The Moving Average Convergence Divergence (MACD) histogram shows flat red bars, suggesting a loss in positive momentum but a still mildly bullish sentiment in the market.

AUD/JPY daily chart

Switching to the hourly chart, the RSI values present a similar picture, hovering in the positive territory, and the MACD histogram continues with red decreasing bars, indicating a loss in selling momentum but a flattened buying traction. The readings imply that the pair is experiencing similar dynamics on a shorter-term scale.

AUD/JPY hourly chart

By contrasting the daily and hourly charts, indicators suggest a consistent bullish momentum, albeit with decreased intensity. Despite the short-term neutral-to-negative outlook, the pair's position above the 20, 100, and 200-day Simple Moving Averages (SMAs) reinforces the perspective that buyers are in control in a broader market view.

AUD/JPY

Overview
Today last price	98.06
Today Daily Change	0.01
Today Daily Change %	0.01
Today daily open	98.05

Trends
Daily SMA20	97.75
Daily SMA50	97.27
Daily SMA100	96.86
Daily SMA200	95.74

Levels
Previous Daily High	98.08
Previous Daily Low	97.41
Previous Weekly High	98.84
Previous Weekly Low	97.34
Previous Monthly High	99.06
Previous Monthly Low	95.5
Daily Fibonacci 38.2%	97.83
Daily Fibonacci 61.8%	97.67
Daily Pivot Point S1	97.61
Daily Pivot Point S2	97.18
Daily Pivot Point S3	96.94
Daily Pivot Point R1	98.29
Daily Pivot Point R2	98.52
Daily Pivot Point R3	98.96

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

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