The AUD/JPY pair is currently trading at 98.60, showing a substantial decrease of nearly 1%. Despite this decline, the broader trend continues to show positivity, with bulls maintaining their control. In addition, as the downward movements might be over-extended, the pair may enter a consolidation phase.On the daily chart, the technical outlook for the AUD/JPY pair suggests a positive trend. The latest Relative Strength Index (RSI) reading resides in the positive territory, aligning with the recent upward momentum. Having peaked near overbought conditions earlier in the week, the RSI has now pulled back to a moderate level, pointing towards potential consolidation. Concurrently, the Moving Average Convergence Divergence (MACD) paints a contrasting picture, showing decreasing green bars that signify a slowdown in positive market momentum. AUD/JPY daily chart Switching to the hourly chart, the last session’s RSI plunged deep into the oversold territory, which could hint at a potential short-term correction upwards. Despite the sharp drop in the RSI, the MACD histogram displays flat green bars, implying stagnating bullish momentum on hourly timeframes. AUD/JPY hourly chart The next target for the sellers is the 20-day Simple Moving Average (SMA) at 98.10. Below that the 100 and 200-day SMAs will act as strong supports in case the downside pressure persists but if the bulls defend this level, the overall trend will remain positive. AUD/JPY

OVERVIEW Today last price 98.64 Today Daily Change -0.98 Today Daily Change % -0.98 Today daily open 99.62

 

TRENDS Daily SMA20 98.09 Daily SMA50 97.63 Daily SMA100 97.25 Daily SMA200 96.08

 

LEVELS Previous Daily High 100.17 Previous Daily Low 99.29 Previous Weekly High 97.97 Previous Weekly Low 96.9 Previous Monthly High 99.06 Previous Monthly Low 95.5 Daily Fibonacci 38.2% 99.63 Daily Fibonacci 61.8% 99.83 Daily Pivot Point S1 99.21 Daily Pivot Point S2 98.81 Daily Pivot Point S3 98.33 Daily Pivot Point R1 100.09 Daily Pivot Point R2 100.57 Daily Pivot Point R3 100.97

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