The AUD/JPY gave up daily gains and struggled to make a decisive upward movement. The hourly chart signals a shift to short-term bearish traction, with a downturn of the RSI. To ensure continued bullish momentum, buyers must defend the main SMAs. On Monday's session, the AUD/JPY pair is trading at 97.71, mildly down after peaking at a high of around 98.10, near the 20-day Simple Moving Average .
The Moving Average Convergence Divergence , however, reveals a less optimistic picture by displaying decreasing red bars, indicating a steady negative momentum and giving arguments for a neutral to bearish outlook. AUD/JPY daily chart On the hourly chart, the RSI started the day around the 61 level representing a strong momentum, gradually losing strength as the session progressed to fall into the negative territory around 42 by the American session.
Source: Digital Coin News (digitalcoinnews.net)
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