The AUD/JPY showed a stronger stance by posting a gain of 0.27% and settling at 99.24 in Wednesday’s session.
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 SMAat 99.30 is the main targetfor the bulls. Despite the recent downside, the pair indicates a dominant bullish outlook, firmly standing above the key Simple Moving Averages .
The latest reading was 53, indicating a positive trend, while previous readings varied between positive and negative territories, revealing fluctuating market momentum. The hourly MACD shows flat red bars, signifying a steady negative momentum. AUD/JPY hourly chart Observing the broader prospect, the AUD/JPY's position above the 100-day and 200-day SMA reveals a robust long-term bullish trend.
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