The AUD/JPY exhibits substantial bullish momentum, standing at the 101.39 level and showing an encouraging 0.54% rally.
The daily RSI for AUD/JPY reveals that the bulls are in charge, approaching overbought conditions. Despite the hourly MACD indicating a short-term dip, the RSI highlights the buyers' dominance. As the cross jumped to multi-year highs, the buyers might eventually run out of gas. The AUD/JPY exhibits substantial bullish momentum, standing at the 101.39level and showing an encouraging 0.54% rally.
However, the RSI readings suggest steady, positive momentum with figures hovering above 50, apart from a brief dip to 48. AUD/JPY hourly chart The AUD/JPY also demonstrates a bullish stance in the broader picture as it positions itself above the 20, 100, and 200-day Simple Moving Averages . So all signals points to a clear bullish stance, but traders should be alert that if daily indicators reach overbought conditions, the pair may see some healthy downside to consolidate gains.
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