AUD/JPY PRICE ANALYSIS: BULLS HOLD THE LINE AND DEFEND THE 100-DAY SMA
- The AUD/JPY is currently trading at 96.32, recording a loss of 0.30%.
- According to daily chart indicators, negative RSI trajectory and ascending red MACD histogram hint bearish momentum.
- Hourly chart indicators imply bearish pressure has eased with a rebound in bulls evident in positive RSI slope and flat MACD bars.
In Monday's session, the AUD/JPY pair lost ground, with a low of 96.32 following a previous high of 96.80 earlier in the day. On the fundamental side, markets await the Reserve Bank of Australia meeting on Tuesday where investors will look for clues for forward guidance which could set the pace of the cross for the week. The technical outlook for the pair remains neutral to bearish on the daily chart, although recent activity shows the bulls regaining some ground on the hourly chart
- The AUD/JPY is currently trading at 96.32, recording a loss of 0.30%.
- According to daily chart indicators, negative RSI trajectory and ascending red MACD histogram hint bearish momentum.
- Hourly chart indicators imply bearish pressure has eased with a rebound in bulls evident in positive RSI slope and flat MACD bars.
In Monday's session, the AUD/JPY pair lost ground, with a low of 96.32 following a previous high of 96.80 earlier in the day. On the fundamental side, markets await the Reserve Bank of Australia meeting on Tuesday where investors will look for clues for forward guidance which could set the pace of the cross for the week. The technical outlook for the pair remains neutral to bearish on the daily chart, although recent activity shows the bulls regaining some ground on the hourly chart
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.