- The AUD/JPY is fluctuating around the 91.30 level, registering only slight upward movement during Monday’s trading.
- The prevailing trend suggests a downward trajectory, despite conflicting signals from technical analysis.
- Significant resistance is observed near 91.80, while a support level is identified closer to 91.10.
The AUD/JPY is hovering near the 91.30 mark on Monday, exhibiting minimal change as the Asian trading day approaches. The currency pair is range-bound following a session marked by limited price swings. Despite a modest increase for the day, technical indicators present a mixed assessment: the Relative Strength Index (RSI) remains neutral around 48, the Moving Average Convergence Divergence (MACD) indicates a buying opportunity, while momentum and stochastic oscillators suggest increasing selling interest. A bearish sentiment continues to dominate, supported by the 30-day Exponential Moving Average (EMA) and Simple Moving Average (SMA), along with the 100-day and 200-day SMAs, all pointing to further downside potential.
Analyzing the technical details, selling signals persist as the 30-day EMA at 91.77 and 30-day SMA at 91.88 suggest further declines. Longer-term trends also contribute to the bearish outlook, with the 100-day SMA at 94.99 and the 200-day SMA at 96.92 strongly indicating selling pressure. While the 20-day SMA, positioned lower around 90.65, implies some short-term buying interest, it appears insufficient to counteract the broader negative sentiment.
Momentum indicators reinforce the bearish scenario, with the 10-period momentum displaying weakness and the stochastic %K lingering at elevated but declining levels near 86, typically a sign of possible reversal from overbought territory. Conversely, the MACD’s buy signal moderates the bearish outlook to some extent, suggesting potential short-term stability.
