The AUD/JPY pair experienced a significant intraday increase, approaching the 91.00 level. This upward movement, however, is juxtaposed with prevailing bearish technical indicators, suggesting continued downside potential.
Short-term resistance is observed near 91.20 and 91.90, while support is established around 90.90 and 87.30. Despite the intraday rally exceeding 4%, technical analysis indicates persistent bearish sentiment.
The Relative Strength Index (RSI) at 42.71 remains neutral, and the Moving Average Convergence Divergence (MACD) currently signals a sell. Stochastic %K (14, 3, 3) at 29.69 and the Ultimate Oscillator at 48.82 also reflect neutral momentum.
Key moving averages, including the 20-day SMA at 93.11, 100-day SMA at 96.08, and 200-day SMA at 98.08, exhibit downward trajectories. Furthermore, the 10-day EMA at 91.19 and the 10-day SMA at 91.89 are positioned above the current price, potentially acting as immediate resistance.
