The daily RSI suggests consistent buying momentum, with a slight dip indicating the possibility of a short-term correction.
The hourly RSI and MACD readings suggest mounting selling pressure in recent transactions.
The AUD/JPY trades at 102.43, demonstrating a pronounced bullish inclination despite Monday’s sharp losses. Indicators took a big hit and suggests that despite the bullish command, sellers are gaining ground.
On the daily chart, the Relative Strength Index (RSI) is seen trending within the overbought terrain, suggesting that buying activity has dominated the market action. A recent dip from overbought territory to 66 indicates potential for a short-term correction in the upcoming sessions. Meanwhile, the Moving Average Convergence Divergence (MACD) maintains flat green bars, signifying stable positive momentum
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