AUD/JPY Price Analysis: Bulls maintain dominance despite bearish hints unveiling

The AUD/JPY is currently trading at 98.50, with a slight dip of 0.25%. Based on the mix of indicators, the pair has a predominantly bullish bearing, although there are mild bearish hints on the shorter time frames. In that sense, the downward movements can be seen as a mere technical correction of the pair needed to consolidate the gains that took it to highs since 2015.

On the daily chart, considering the recent Relative Strength Index (RSI) values, the index shows a slight decline, implying a minor shift in favor of the sellers near the overbought zone. Nonetheless, the positioning in the above half domain indicates that buyers still exercise control. Turning to the daily Moving Average Convergence Divergence (MACD), the histogram's decreasing green bars signal fading positive momentum. Despite this deceleration, the positive color implies that the bulls may still have some fuel to counterattack the bearish pulls.

AUD/JPY daily chart

On an hourly chart, the RSI has settled into the negative band, depicting a conflicting scenario between the short-term and the broader perspective. Concurrently, the MACD histogram shows an uptrend but it is characterized by red bars, pointing to a build-up of negative momentum.

AUD/JPY hourly chart

In summary, the AUD/JPY exhibits bullish signals from a general perspective, supported by its position above its main SMAs and positive territory representation by the daily RSI and MACD. However, bearish cues emerge on an hourly scale and maybe a warning that the bulls may take a breather in the next sessions to consolidate gains.